The highest mid FICO scores I usually see for people with high utilization and no late pays or derogatory accounts is 670-680.

This April I closed on a GREAT deal in the heart of a hot market here right outside of Charlotte and rented out my master for another $750 a month now collecting $2,300 a month on the property (I'm paying the utilities).

My thought was:1 - I put the down payment and assume the mortgage.2 - Contractor (no skin in the game at this point) buys materials to complete the necessary upgrades3 - When it is done we sell the property and subtract the down payment, material cost, mortgage payments, utilities, settlement costs - and then whatever is left we split.  

Holding costs- in your example there probably wouldn't be much if any holding costs because the renters are staying during the rehab, but most BRRRRs are empty so you would have some holding costs in the form of insurance, utilities, maybe taxes depending on how long the rehab takes so you will want to have those in the numbers as well.

From those numbers, 3 of us and my girlfriend will be living in the house, so say 1800/4 + utilities estimate, we would come out to around 500/month each if we split the costs evenly.

So, apart from estimating your price by checking similar properties in the area, make sure that you also factor in all of your expenses such as appliances, utilities and taxes when figuring out how much rent to charge.

I'm not looking to sell but rent and from doing research I should be able to get 1100-1300 and renters pay their own utilities and water/sewage.

I have found that property taxes and utilities can have a large impact on how well a market cashflows and that is why price to rent ratio isnt a perfect metric.

You are also the one that has to cover the utilities included wifi and lawn maintenance.

Dear Colleagues,I need help with a spreadsheet or some calculator for distributing utility bills among tenants in my 8 unit building This is an old victorian multifam and there is just no way to sub meter these units.Any help in this regard is greatly appreciated.