Give you the wherewithal to pursue and achieve your long-term goalsMany investors start off "too hot", and they either overdevelop their first property or they spend their money too fast - either of these behavior will stop you dead in your tracks, and you probably won't even be able to achieve your short-term goals - and you certainly won't have the resources to pursue your long-term goals.

If you're only finding deals that your buyers want, you don't have to "test the waters" first to see if they'd be interested...you can go ahead and get it under contract immediately because you already know you'll have someone to buy it. 

Do any of you happen to have a spreadsheet that will calculate a particular tenants portion of the water bill considering the number of days they have occupied the unit?

@Justin R.Expenses (monthly)123 insurance 230 taxes145 water/trash65 gas55 vacancy275 capex 125 maintenance40 pm software1088 fixed expenses740 debt pmt

I think it all depends on your market, value of property, etc...In a hot sellers market, the agents job will be a cakewalk and no bonus is needed.

Are there separate meter for electric, water and gas?

The exit strategy worst case scenario determines how far under water this building really is in today's market.

I once knew of a situation where a tenant who had their water cut off ran a water hose with dual female couplings from their neighbor's house to theirs at night and fed their house with water the neighbor was paying for, until the cops caught them one night. 

The inspector pointed out the following:- Clogged gutter(s): one had tree roots growing inside- Caulking and/or cementing needed on outside of the house to seal gaps- Filthy crawlspace with water intrusion (possibly due to clogged gutters).

He also said the roof was leaking because one shingle needed to be replaced, but that did not explain why every room and bathrooms in the upstairs had water marks running down the walls.