@Wesley W. the guys I had tearing it out got to keep it as part of the payment.They totally gutted the bathroom (mold & all) & the kitchen $200 & took all the debris away.Then they installed all the new insulation & drywall throughout kitchen, bathroom outside foyer & hallway down stairs $250.I paid for materials & did the mudding, finishing & painting but they worked like dogs.

Lowes is starting to shut down underperforming stores, so well, the one's who are LAZY (or incompetent like the one you are using) like one of them I pass up, probably will shut down as I and other investors or contractor's go 20 miles down the road.Next prepay all of your materials in batches since the list expires quickly. 

In the end you'll likely save more from the utilities than you lose from lowering rent.

Which are credit card ratio, inquiries, payment history (including phone, utilities, etc).

Then I will be able to utilize that money again for another property. also, I know it can be very difficult to get a HELOC out of an investment property.

The question is, is there any way to take over my parents mortgage, while still somehow utilizing the Gift of Equity and turning it into an investment property? 

There are some electric wires going through a few trees to the utility pole on the street.

I would like to convert to Gas to save money on utilities and to look better to long term tenants.  

Expenses are high due to some utilities being covered by owner and I also included mortgage expenses as if I was financing 100% of the deal.  

We are investing with a distance, so it's physically impossible for us to wait for early risers in building material stores.Let me know if you have any ways or recommendation for contractors.