If the water bill is $100 a month, increase the price by 20% (or whatever you decide is fair) to compensate you for the time required to split and bill and to cover additional use when tenants squander the utility.

It's a lease agreement until the requirement is fulfilled.

Ask questions, get to know the renters, and document the condition of each rental so you have a record from that point forward and can hold tenants responsible for damages.Your offer to purchase should include a requirement that the Seller provide all documentation and agree to sign an estoppel certificate (also called an estoppel form or agreement).

Especially with most units requiring 3 different paints/colors: walls, ceiling and base/trim/doors.

I am not suggesting you can't acquire a BRRRR home (although it's more difficult right now with the higher interest rates), or you will necessarily fair better with the purchase that requires you to leave your $40,000 of capital in the property.

I'm wondering if anyone has been successful at closing with this type of loan product and if so, what factors (credit/DTI/reserves, etc) were required for you to be approved?

The ability to make a cash offer and the absence of steps required to obtain hard money makes it easier.

This kind of revelation requires legal action.  

There are exceptions to this (like Ariel Dunes I or Calypso Towers with very specific lenders), but just be aware of the possible financing requirements when you're considering the condo route.  

However, promoting a $35,000 West Side Home in a disposition effort has proven challenging as:-Access is restricted until final walk through before closing-A non refundable deposit is required (required by dispo company)-Only pics of the outside of the home-Home will be vacant at closingThe home looks decent from the outside & allocating for a full rehab on an 850 SqFt SFH, home est. retail value after reno around 150kLooking for thoughts of other investors & or realtors on this one as I thought this one would fly off the marketplace....