A strategy you could use is if you are both wanting to get into real estate is purchase together to get the highest buying power(provided you are both working). 

All separate electric meters and gas, water is included.

Several other properties with this exact layout and in the same zone have the property type: RESIDENTIAL-DUPLEXSo I guess my question is this: If I were to go through the trouble of putting in a new and separate heating and cooling unit for this property as well as adding a new power meter for the basement unit, how hard would it be to get this property labeled as a Duplex from a Single Family?

As it is a low (no) interest rate, aside from eventually paying it, my only concern would be how much it affects your borrowing power. 

If the rental market was tighter tenant may have more negotiating power, but not in this current market.

If you're the one responsible for them, there's a very good chance they'll leave power/water/gas on and running as much as possible since to them it's "free" and they want to take advantage.

It has an expiration date on it.Unfortunately people "borrow" other people's license to do plumbing or electrical or even GCs.

Need:rental incomemortgage paymentsmonthly principal paymentexpenses, property taxes, repairs, insurance, water, electric, etc.ability to increase rents every year.amount paidbalance on loanscurrent valuehow much have they appreciated in valueWhat are 8-unit streams?

Gonna start by saying to just typed up a super detailed post explaining everything in my head, then I accidentally clicked the power button on this chromebook and deleted it all; so bare with me on the spark notes version of this.Closing in January on my first investment prop. 

You will need ADA hallways and bathrooms (generally 36 inch clearance for a wheelchair to do a 360 or more) You'll need the electrical to exceed code and add carbon monoxide and smoke detectors that are commercial flashers for hard of hearing and blind.