A bad tenant will cost you much more than that.

So the partnership would be to split the down payment and other fees, redcue capital expenditure risk in the future, and we would like to do some work on the basement & backyard which is also going to cost capital.

To answer your question, it is possible, and quite costly, to have individual meters installed by the city.

If your all in costs are 115k, the loan amount would be 92k (80% LTC).  

While you might be cheaper off the MLS, it costs you a lot of money and time to do that. 

Here are some insights into loan types and potential programs that could be advantageous for your situation: FHA Loan,Conventional Loans with Low Down Payment,Local Bank Programs,Grants and Assistance Programs,When exploring loan options and assistance programs, it's important to compare the terms, eligibility requirements, and overall costs to find the best fit for your financial situation and goals.

If this market does slow down because of interest rates then, rent may see a increase because they won't be much option for people to buy because it will cost more than RENT at that point. 

I could technically get $332K out, so this leaves a little meat on the bone to cover closing costs, potential unexpected rehab issues, etc.

Essentially these trends will culminate in an increased cost of living and a stagnant or decreased wage (again, felt most around affordable/entry level housing). 

Tenants tend to stay longer in single families which leads to less vacancy and turnover cost.