If the water bill is $100 a month, increase the price by 20% (or whatever you decide is fair) to compensate you for the time required to split and bill and to cover additional use when tenants squander the utility.

The property has 2 electric meters and one water meter.

Fill water tub with water a couple minutes( good time to tighten down toilet bolts and caps) caulk tub five minutes.

Licensed with permits ~$4,000.Full replacement of all water supply lines and shutoffs from the interior water meter with PEX and an open basement.  1 kitchen 1 bath 1 laundry. 

I a factoring in the replacement of the AC unit and potentially the water heater, and the cosmetic thins (I would do myself) to get it to rentable standard.

Maybe the P trap under the sink is not filling with water correctly and allowing sewer gas to come back in.  

So adding this to my prospecting plan may provide reach to do deals that I may not have had before simply circling the usual watering holes.

They'd also probably be more aware of how much water, gas, or electric they are using when they have to pay the bill after each cycle.  

I learned the hard way how to shut off water and how to winterize.

With that in mind, you'd also have to make sure the land you'd buy has water and electric running to it already.