This is not an uncommon business plan, and it is usually carried out by operators who are poorly funded. 

I'll definitely need her to partner and owner finance in some capacity and in since I'm not strong with capital (yet), I want to show up as buttoned up as possible.My question is how to come up with a rough sketch of projected operating costs? 

If you're already under market, then the current crop of tenants may resent the utility off-load (assuming you're off lease) and move, but new tenants will find the apartment competitive to everything else.

Beka Shea has flipped more than 60 houses and owns and operates a marketing consulting company.

In terms of partnerships, LLCs are great as you (read as "your lawyer") can write dispute resolution tools and processes into the operating agrement.

I've formed my LLC, built a website, built most of my systems, and opened my operating and trust accounts.

Im new to MFH investing but working with a couple operators for acquisitions in Tulsa.

(Reserve)- $76Operating Expenses- $613Net Operating Income$1,026Capital Expenditures (Reserve)- $66Total Unlevered Cash Flow$961Mortgage- $668Total Net Cash Flow$292

Nothing wrong with that, but you need to set realistic expectations that if you are taking on a huge debt load, the payments going to be higher. 

I can operate it as a normal shower with both hot & cold water but not with all the fancy options.