My one concern is the experience.

Not concerned at all.

I’m less concerned about the small items, and I focus on where big costs surprises can come up (new sewer lines, breaker upgrades, galvanized piping, etc) so I can re-trade my offer appropriately.

But if asset protection is a key concern, it’s worth discussing further with your attorney to find a balance that works for you.This has no income tax impact.

Ideally I keep the relationship with the utility companies and then the tenants pay me their split.My two concerns though are that this is not legal and that tenants wouldn't be willing to do this sort of ad hoc split.

This approach helps them grasp the requirements in advance and provides an opportunity to address any concerns they may have.

The best option for you depends on a number of factors including your exit strategy, any liability concerns and preferred tax treatment.Type of EntityTax TreatmentMain AdvantagesC-CorporationDouble TaxationCorporate tax rates are lowerS-CorporationPass-throughSelf-employment tax savingsLimited Liability Company (LLC)Pass-throughLiability protection and flexibilityFuture Outlook and Recent Tax Law ChangesMost recent tax changes applicable to real estate investors include:The increase in the estate tax exemption to $13.61 million per individual for 2024.

At that rate the investments cashflow nicely.One big concern in this model that some investors are still being talked into funding ground up construction.  

I believe the risk of taking away less in our current market to be a concern.

Need some experience guidance to start.Note i am beginner in US investing.regardsShiv