Great question @Lorraine Hadden,You should always compare both side by side to see the advantages /disadvantages to each.

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.

However, i dont want him to be able to sue me for "the water heater isnt working" "the ac isnt working etc..."

:)As for LTR rental terms, usually we sign a 1 year lease where tenants are expected to pay Electric and Gas if applicable, while the owner typically pays water/sewer/trash with the city. 

What are the comparables in your market doing at your expected price point?

The home was in rough shape—think mold, a hole in the roof, and years of water damage.

This creates a market for both short-term and long-term rental properties.Affordable housing, Compared to cities like New York, Washington D.C., or Boston, Philadelphia offers relatively affordable rent, or section 8 tenants, especially those who are relocating from more expensive areas. 

I would start by comparing quotes from multiple providers.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.