Water bill for the month is $100.Unit 1: ($100 * 1/2) * (2 tenants / 5 tenants) + ($100 * 1/2) * (1000 sqft / 1500 sqft) = $63.33Unit 2: ($100 * 1/2) * (3 tenants / 5 tenants) + ($100 * 1/2) * (500 sqft / 1500 sqft) = $36.67This third method is much more complex to do, but a simple Excel spreadsheet can help alleviate the headache of doing this monthly.There are other ones you can do, like bathroom total ratios, dishwasher vs no dishwasher / washing machine vs no washing machine if the units differ.In the end, you recoup the full cost of the utility bills and bill it as rent + Utility usage (variable) (Check with local landlord laws to determine if you are able to do this).

I am not a hard money lender.Many vanilla/simple scenarios, maybe about 20% of them, we do not actually need personal tax returns.

Just a quick and simple question: does a 401K loan show up on your credit report?

I use a custom version of Utah's forms, since I invest in both states, just to keep it simple.

Keep everything as simple as you can and just do what is average in that neighberhood.Good luck to both of you!

An alternative to door knocking that I've seen others have success with is to leave a post it on the door with a simple message like "I want to buy your house.  

It just seems like the cash purchase as outlined above is way too simple.

It may seem complicated reading about it, but the process is relatively simple.

I will be doing simple maintenance, also painting with flat latex and a paint gun (same colors) but have lined up a maintenance guy who does bigger stuff and was recommended by a friend.

Simple thought, but another way to look at your scenario.