For example, they can see your wiring diagram and know you plan on using the right sized breakers and will not overload them, you have GFCI in the proper locations, smoke alarms will be installed in all the proper rooms, etc.5.  

And if the unit already smells of smoke, how will you prove if they are still smoking inside or not.Run it like a business and do what you have to do to protect your investment.

I know the Austin market is smoking hot and even with cap gains I could stand to clear 300k after tax and expenses.

There are still some issues to think about when sub metering.  1) you still need to get the tenants to pay a bill that they will always say they did not use that much. 2) you have to read the meters every month. 3) if someone chooses not to pay you do not have the right to shut their power off. ( this one may be different by location.)  4) in this property two of the units share circuits so you can not get an accurate measurement of power consumption. 5) to sub meter you will have the same or close to the same cost as seprate metering will cost because you will need to have a panel for each unit and a product called emon demon which can cost more then a residential meter panel and if you sub meter with a meter panel you might as well just allow the power company supply the tenants with meters.

Consider doing a partnership in which your partner supplies the cash and you do the work, and then you can split the profits.

And just to be more ambitious, this is the list of everything I want to do:- Clean all the junk and debris from the house and yard and demo the shed in back- Replace the roof and fix the gutters/soffits- Landscaping- Replace all the windows with double-pane vinyl windows- Replace all the floors in the house (ceramic tile for the kitchen/bath/laundry room, and vinyl plank for the living room and the upper level)- Re-do the bathroom with new everything -- plumbing, tub, shower surround, floor, sink/faucet, toilet, mirror, accessories- Re-do the kitchen with new cabinets, counter tops, and sink/faucet- Paint the entire interior (white ceilings, beige for walls, white for trim)- Replace all the light fixtures, outlets, and switches- Replace the front and back doors and put in new locks- Add smoke detectors and carbon monoxide detectors as required- Finish off the upper level (that was begun by someone else)I want my rehab budget to stay at or under $30,000 and I want to complete everything within 2 months from closing. 

If she refuses to stop smoking in your property, I would call the local housing authority and find a nearby property that does allow smoking.

They say the plumber says it might be a crack or leak and want to do a smoke test.

There was an article in the paper today about the diminished supply.

If you look around you can usually find a discount reseller locally to you that may sell building supplies.