The problem is that they are gambling and if they are inexperienced or under capitalized to meet the obligation in the event of problems... you end up having to foreclose to reacquire a property that is likely poorly maintenanced if not trashed.

We are currently looking at duplexes with 4br 2ba, and it seems that historical utilities combined for these if the owner pays are in the neighborhood of 300-400$ a month.It definitely is a gamble in Northeast Ohio to take the time to install additional meters to pass on the fees to the tenant, but you are right that if it means I have to lower rents to compensate its a wash on income and a negative on the expense I accrued due to metering.

That's kinda my plan, and is certainly 'gambling'.....

Otherwise you're literally just gambling, not investing. 

Quite a few investors from Illinois are coming over to our side of the border from Illinois.

It is a small suburb near the city of La Crosse located on the Mississippi river and on the border with Minnesota. 

There may be other parties that have interest in the property, mortgages, liens, etc.Buying a property with these terms is gambling unless you've done your due diligence.

Land in our area doesn't come up very often, so its a gamble to just hold it and wait. 

These tend to be unsecured and/or to unsophisticated investors which, to me, is gambling.

My rental is in Chantilly / Fairfax border line in a developing neighborhood.