If you're in Cleveland...not so much.So the market really matters if you're looking through the lens of appreciation.If we break it down simply on cashflow, then from the limited information provided, it's highly likely you're going to be bleeding money each month (especially if you're living in one of the units on an FHA).Side question: Can you actually use an FHA on two separate buildings even if they are on the same lot?

Should you build something with separate structures, meters etc in an area where other true multi units exist your odds are better but its all so new so there isn't much data to go by. 

We are leasing the shop/garage separate from the home which already has tenants. 

CA treats each series as a separate LLC for purposes of the $800 annual LLC tax and CA 568 filing obligation...

I have lived in this area for years and not sure that's true.FYI, renters usually pay for these services separately in an apartment complex.

I assume that even the water is metered separately?  

If the tenants paid through the Company B portal, the full rent would've been sent to Company B and what is left between the previous owner and Company A would be separate and irrelevant.

It is a tri level house that sets up very well for house hacking with three separate common areas and a large backyard.

Unless it's been on two separate meters since it was r6, in which case there's a grandfather allowance.

The city quarterly bill has broken down the expenses into separate water and sewer costs, and the sewer is hovering around 400% more than the water.