Since the tenents don't have a lease - When I present them with a lease and they do not want to sign it how much time do I need to give them in order vacate premises.3. there is only one meter for both the water and electricity for each building (totalling 2) - Can I have the tenents pay for the electric by splitting the bill in half?

Treating each situation (Caring) different is what gets lenders in hot waters with the regulators.

E.g. compare it to S&P 500 returns?

Let me know if I can be of any assistance, or answer any questions for you as you make your way into the RE waters.

I want to compare this to the strategy I will be using.

The article compared a scenario in which an investor would own a few properties outright to generate the same income that someone who has many cash flowing properties financed would earn.

I opted to not turn on the water since no one is living there and it’s expensive for that neighborhood to have water turned on.

The reason why the utilities are in my name is because I lease the bedrooms individually kind of like a "rooming house" and in effort to keep the lights on and the water running I keep the utilities in my name to protect the other tenants from potentially irresponsible tenants who may/could take people money for their share of the utilities and not pay the bills. 

All the water wells are on one lower lot and could only drill 4 wells, did not want to do shared water wells as that usually means big big fights around here.

If your owner doesn’t play I would route for the following...The following strategy might be an interim idea hat gives you the option to test all waters.