Thank you everyone for welcoming me to bigger pockets, I wish I knew this platform earlier so I can shorten my path by trying to figure out things by myself, anyhow I will sure utilize and learn as much as I can, appreciate for your sharing and tips!!!

This will make a difference on what is the best option.I am not sure if  Ratio Utility Billing Systems (RUBS) would be an option but look it up.

Landlord only pays for trash, which is about $50/month, all other utilities are individually metered.

Hi All, for those landlords who pay for the utilities of their units, do you put in explicit "no nos" into the lease itself.

@Aaron McGinnisCurrent month activity looks like:MonthPropertyAccountAmountJulyWestportRent-1000JulyWestportCash1000JulyWestportWater400JulyWestportCash-400JulyOverheadCash-100JulyOverheadMeals100Now just add a pivot and you can see your net cash, net utilities, etc. 

Do NOT change locks, utilities or anything of that nature or you are opening yourself up to lawsuits.

The $510 decamps to $208 for the HELOC payment, $75 for lawn care/snow removal per month, and $227 monthly in owner paid utilities -quoted by the utility company- I plan to manage the property, but budgeted for management expense anyway- Furnace and roof were recently replaced- Loan terms are 3.75 with 3.125 points (included in the $7k closing costs above per the bank) - 30 year mortgage- My goal is to buy and hold with an eye on retirement, but of course I'd like to cash flow now. 

I've been told the level of service quoted is for full setup of a business structure, new plan documents, and IRS determination letter, in order to utilize checkbook control. 

I am looking to pick up some apartment buildings in Newark, NJ and would like to immediately re-position each building by managing the expense side. Does anyone know if RUBs are legal in Newark, NJ? And If does anyone...

Naturally, we charge a higher rent ($450 - $500/month) when renting by the room than if we let an entire house on a single lease ($360 - $425 per room per month): since we are carrying the utilities, have more administrative overhead and have to deal with housemate drama.