And that leave a lot of leeway.You can take an old historic district and have a 2000sqf 3/2 Victorian with fireplaces, 11' ceilings, crownmolding throughout and 15'x15' bedrooms.

Expense reduction is a great way to increase cashflow and create equity.Specialized or Niche Housing can be a huge boost to income.A buddy using Student Housing gets 5K a month from a 4 unit renting per bed after expenses.Another using Vacation rentals has an old Victorian with a bunch of beds rents out each bed $200 a night to tourists.Good luckPaul

Here is one example:I bought a 4 plex out in Spokane WA with seller financing which my daughter nicknamed "The Pink House" (it was an old Victorian house painted pink with green trim).  

I've been looking at this victorian on Loopnet, and to my admittedly untrained eye, it seems like it would bring in some cash flow/break even on three of the units, so I could live for free in the fourth.

We have a Victorian duplex not far from the legislature here in Fredericton.

@Ben LengerAs someone who has a few "older" (Second Empire, Victorian, Edwardian) properties, I assure you there are more than the "little things" hiding behind those walls.The good news is the original house is too old for asbestos to be a big concern ... unless there were renovations in the 1920s - 1940s.  

While the actual remote/meter device can be as small as described, you need to first have a manifold down stream from the utilities meter on the building and separate water feeds running to each unit.Most of the time in smaller residential (1-4) multies or converted older buildings (we have lots of old Second Empire, Victorian, Edwardian, etc homes here than have been turned into 5-8 unit apartment buildings), the water lines to each unit are not isolated.

Hello: I've heard that investing in Large Victorian Homes in Cleveland, Ohio by rehabbing them and renting them out to section 8 tenants generates much positive cashflow.

I have rehabbed about a dozen Victorians.

Purchase price: $340,000 Cash invested: $80,000 Sale price: $615,000 Victorian duplex rehab