Granted it depends upon the way the property was constructed, but I'd wager they never did it with the intention of it being split out.

FHA has more requirements in regards to net rental income versus conventional.

I would compare the total closing costs versus the payment savings before moving forward.

- How do you balance property quality versus rents?

Water as a utility is something that can skyrocket due to issues compared to other utilities (we had 2 issues this past year with water repairs causing high bills).What is the cutoff on helping out renter versus getting taken advantage of?

If it does the tax rates will change, so you will have to run the numbers to see what the deduction is worth to you in 2017 versus in 2018 (also factoring in time value of money- the extra value to having the tax savings a year earlier).

You want to read your declaration to understand exactly what your HOA covers versus what you are required to have covered by insurance.

Then, I would want to know if paying cash for your investment, versus leveraging financing over many projects would get you closer to the monthly figure you seek. 

That typically means putting a new battery in it, versus taking it down and throwing it in a drawer.

People are spiteful and if it was one versus the other, you could cause conflict between them and turn a good tenant into a bad one, over 25 to 50 dollars!