I would redistribute the water bill to the tenants and split it 4 ways. 

That $1,200 to people making under $99K is just a redistribution of wealth.  

Engage the local municipal and state governments who are seeking and redistributing these grants.

Alternatively you could split the down payment into 4 similar sized properties to stay within your niche at, on average, 216K  with a familiar 43K down payment a pop.This move would help you redistribute your equity to help you maintain a solidly leveraged position while ensuring a positive cash flow.Either way, great pick on the initial property!  

(S-Corp)Our understanding is that any consideration from a RE transaction must be received and re-distributed by a RE Brokerage.

Imagine if your mortgage company sent you a $25 gift card, I personally wouldn't care-- I'd just think "thanks, you're obviously overcharging me if you need to redistribute $$ to customers."

I am about to redistribute those in next two years or so to real estate.  

Any thoughts on how to best advocate for a redistribution of equity?

This money (property tax revenue) is utilized to fund essential resources and public services for Texas citizens, including public schools, libraries, emergency services, road maintenance, and community safety measures.If property tax reform occurred, this would likely result in redistributing the tax burden by implementing state income tax or introducing higher sales tax rates to make up this shortfall.

The wrong "what-if" happens and the johnnie chorans of the world are redistributing your wealth.