To answer your question about research I've done, I'm learning as I go, reading books and utilizing BP. 

If I am in agreement with the voucher let say for $1000.00/m, and if I am correct the tenant also gets the utilities paid by the government.

Or perhaps I simply run my life through a company that isn't actually in business - things like insurance, cell phone, cars, utilities, you name it.

All units are sub metered utilities which is very nice for me!

Louis area, may have originally been used to house construction workers, but that is merely speculation.The biggest issue with splitting up a property is the requirement to split the utilities.

While I am not familiar with CA zoning, I know in some areas that a mother-in-law type suite is not a separate dwelling and must share utilities and often can not be rented out.I would confirm this personally with the zoning department, and not just trust the Architect, since you dont have previous experience with him.

I'm a little confused about converting utilities though.

Also, take into consideration utilities you will have to pay and routine maintenance costs too.

If you can better utilize your time in your career, that can be way more financially beneficial than the money you save with self managing.

Here's my breakdown:$120,000 sales price-$89,900 purchase-$900 closing costs (1% of purchase price)-$15,000 repairs-$7,200 realtor commissions when selling (6% of sales price)-$600 closing costs (.05% of sales price)=$6,400My numbers above do not take into consideration the cost of insurance or utilities (i.e. holding costs), the cost you would pay to your lender, or any overages to your repair budget.