B.

The house meter is for consumption not specific to the individual units...such as exterior lights, power to the washer and dryer, sprinkler system, outside hosebib etc...If existing water lines are behind walls, under slab, it is going to be impossible.Also, if you separate electric but not water, and your water heater is electric, make sure you are not supplying hot water to unit B on a branch of a line powered by unit A's electric.

Hi William,Personally I wouldn't be willing to buy a C+ property for $55,000.Maybe if it was a solid B class.Then again, everyone has a different perception on the asset classes.I am based in Ohio and $50,000 sure does go a long way.

@Mary B. thanks for that.

never know the potential unless you take the time to vet them out... however I also agree as a newbie, and if you have more funds, invest in something more solid like in B+ or A- neighborhood get your feet wet much easier to manage....

I have been seeing 8+% cap rates for A- and B+ type properties.  

@Bram Spiero Hi, we play R&B funk music.

I purchased my first property cash - it was great value for the property but was too low to do an immediate cash out (less than 30k) so Im waiting not only for 75% LTV refi after 6 months (per my lender) and in the mean time and sitting on the sidelines with other potential deals b/c I do not want to get in over my head, no matter how good the deals I have to pass up are.

I told the attorney I wanted all of the laws mentioned to be cross referenced with the current laws to make sure it was all up to par b/c some of them were old leases that friends had used for several years and I wanted everything to be within the law on my lease and to add anything he thought I needed.

Do you have a google doc spreadsheet that you can plug numbers into, or do you have a rough estimation sheet such as house is A B or C rehab, and A is going to cost $X per sq ft to fix correctly?