This is a single family, I assume, and is it common in the area for the tenant to pay water and sewer and also care for the property?

Also there are no cap rates on 4plexes.https://www.biggerpockets.com/forums/88/topics/360...No trash, common area utilities, yard, snow? 

@Evan Ventura,People here on BP have also successfully used the cheap IKEA countertops (around $75-99 for a piece). at that price they where treated as expendables (one per tenant), and some even reported getting the install time with demo at 2-4 hours.for the other, you need to "waterproof" the common points of water entry:-caulk between the wall and countertop-use varnish on points contacting sink-use good glue near the oven/range since the usual pressure-activated glue does not fare well with heat

There are some things they have in common, others differ.

The other bit of my question is whether anyone's opinion is changed at all by the commonly held idea that the market may be topping out a bit.

Also as Dave mentioned, the easiest way to bring in a partner is to acquire the new property in a tenants-in-common (TIC) legal structure, which would allow for the 1031 exchange.  

Any suggestions on common sense banks would be appreciated.

In fact, there is one being offer by DIG outside Philly this Sat (October 8th).As for plumbing and utilities, this is quite common and just estimate $1000-$2000 for plumbing and $6000 as a contingency for HVAC.

I guess everyone agrees that is a big fat no.

Is that common there?