I have 2 musicians and a guy that does computer recycling. 

The closing is for the funds to be moved to your operating account or to title depending on how your project and raise is structuredYou execute the project and attempt to have your actuals meet or exceed that which you projected in your pro formaThe project exits and you return the capital to your investors or to the fund to recycle depending on whether or not you're syndicating or raising through a fundYour investors are happy and invest in the next deal(s) with you and hopefully tell their friends about their great experience. 

He chose to stay as long as possible and told other residents in the building he was just taking advantage of us because the court was closed, and he was planning to milk it as long as possible. 

So no Kalashnikovs in the basement, no seed stocks, no Nigerian dwarf goats for milk sustenance production on a hidden homestead, no group bunker membership, no sperm on ice for future cloning.

I would only replace them now if you had a crazy good deal like a free used unit they have to throw away or something. the math I've done in the past led me to decide that as long as repairs stay under 250 per year to milk the units for all they are worth,  I keep repairing.

Trash is included in your taxes, you can pay for recycling for like $20 a quarter or something like that.

Then you could also rent to a cheesemaker who will turn the cows milk into a high value product.https://youtu.be/EbJc8i5B9RU

Utilities (Electric/Water are split 4 ways and Internet/Trash/Recycling are included.)How do I structure the split of utilities?

If you want to be as efficient as possible, do your best to recycle the capital from the homes and then use it again to complete the other repairs. 

Maybe they don't know how to do the Joe recycle their money over and over and over system.