We have had duplexes with shared water, sewer, and trash billing, as well as shared driveways.The long term tenants act more like owner occupants, planting flowers, etc. and in some cases neighbors think that they are the owners. 

I know some might disagree.The challenge is if someone applies and meets all your criteria and you reject them, I would hate for you to end up in some legal hot water.

First of all, let me pay my respects to the hardworking people in real estate and the treacherous waters they navigate—fronting hours of effort with only the chance of commissions and an abundance of non-forthright people out there.

If you think there a leak have all tenants not use any water and find the water meter outside.

Same property listed water bill paid by landlord so how much does it cost to put individual meters for each property so cost can be moved to tenants? 

Also, my guests always love my little goodie basket of snacks and a few bottles of water. 

In Reno and metro areas, insurance companies primarily focus on roofs, the age of the building, wiring updates, and water pipes, as mentioned @Cameron Moore.

Sewer and water in my area is around 10k a unit.

Why not start with a small turnkey rental property and test the water?

It had 22 of the 25 lots occupied but we'll be fixing it up, filling it up, billing back water and raising rent up to market.