Wealth is the scorecard, but somehow gifts have to be accounted for. 

Insurance needs to be carefully thought out ,carry a high deductible ,look at other ideas that can lower your premium .With a high deductible you need a money sitting in a account that can cover the deductible .

The company is in a huge crisis - he said the entire accounting department walked out while he worked there.

Why do you keep setting up accounts?

I would like to account for big improvements too althought instinctively i dont think i want to buy a property that needs any crazy upgrades off the bat.

If so, those bookings and the accounts go away.

Some people love it, some people hate it.Benefit is once you get on the program the government direct deposits into your account. 

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.

Quote from @Courtney Dettlinger: Your equity is not a savings account from which you can withdraw for free.

This would be a 1031 up-leg for me, so I cannot have my sales proceeds sitting in a qualified exchange account for longer than 180 days (45-day identification period). have you selected an intermediary yet?