Some are on septic and well systems and not regular water and sewer.The more you go suburban to urban core with upgraded construction the more the cap rate tends to drop but generally better loans available for well located assets and a strong tenant.Without knowing expected proceeds from the exchange, if you will add additional funds to the down payment, what purchase price you are wanting, what area of the U.S. with cold belt versus warm belt states, etc. it is hard to comment further.

I'm specifically wondering if it's possible to set up utility accounts where I can contribute a flat specified amount for electric gas water etc.

Houston in particular be vary wary of flood zones and any potential historical water damage from the frequent flooding / hurricanes of just a few years ago. 

Your question about hydrostatic pressure is getting into the weeds for sure...I would ask myself, does the potential water infiltration have the possibility to damage the unit and tenant property?  

@Shafi Noss Improving the land would be the simplest since there's already a driveway, electricity, and an old water well that needs to be jetted again.

8 - What type of natural drainage will there be on the site/9 - What type of water supply will you be using?

Let’s start with CompliancePrompt:[1] You are an expert in the federal and state taxation of landlords owning rental property [you need to tell the AI what is expected].[2] I am a CPA, with expertise in taxation of real estate [unless you want a watered-down response, tell the AI that you want a granular response][3] Use IRAC format [This is used by attorneys.

So suggestion google flat fee broker in your market see if one exits and if your product is that hot negotiate the fee..

There's plenty of people ready to pay for hot leads.If those aren't options, and you are focused on owning them, seller financing, subject-to, and lease options are the only remaining options.Thanks Ben. 

The first farmer tries to plant, water, and harvest everything himself.