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 only thing that sounds out of the ordinary here is the water bill

Metron and Southern Water Management are two that we've been talking to.

Did nobody ever stop and say "oh, hey, maybe we should keep water pumps going because, ya know, no electricity no water pumping, NO WATER". 

Can fix the water damage in the basement yourself.

.: Quote from @James Jefferson: Hi, I have a family member that had a reverse mortgage on their property it's a 3b 1b 1 acre of land heats by oil no hvac and on well water.

Don’t assume that you will have water.

It's hard to say offer amount without knowing the rehab part since that could blow this out the water.  

@Marc Robinson what's the lot rent, who pays what utilities and what's the source of the water and sewer?

You said public water was available...would the lots require a septic system to be installed or is public sewer available?