I think having no BS in the pitch is just as important though, as most people still have a decent BS meter, even when in distress.

I already have a granny flat that my son lives in, so @Curtis Bidwell I'm interested to know how you bill for the utilities, assuming they are on the same meters.

@Mooro El Question to calibrate your BS meter, I haven't made a Fannie Mae loan for years, would that mean I don't know Fannie Mae lending?

If there is a shared meter for a utility, then you maintain responsibility and figure out how to recover the cost from the Tenants.HOW TO SHARE UTILITIES 101You have a property with two or more units and the utility meters are shared.

Ask about utilities and meters...are they separate or all on one.

Are the units separately metered for electric and/or gas?

I'll be extending city water and sewer a few hundred feet up the highway and metering spaces separately.

this would be an opportunity to convert these units to add meters on the 4 units which would cost me upfront but long run it will be saving by assign the electricity back to the tenants to be held responsible to pay the electricity.  

The seller sub metered the water about a year ago but has tenants who have yet paid their bill. 

Each home is individually metered electric and water.