If you’re still concerned, you could consider installing programmable thermostats or low-flow fixtures to help control costs without relying entirely on tenant behavior. 

Watch videos by andreas antonopolous on YouTube Wired andreas antonopolous Money as a system of control andreas antonopolous Fake money fake news andreas antonopolousThis is the internet applied to money.

A quality deal you have control (under contract, seller only wants to work with you, etc.)3.) 

He may get stuck with rent control laws that prevent him from catching up later. 

@Matthew HoldenDo you have checkbook control or full custodial SDIRA?   

Other countries have significant controls to this the US does not have.

So although you have HOA dues, sometimes it isn't enough and you don't have control over that cost (if it goes up, special assessments, etc.).2.

Offer the design team a piece of the equity OR pay a premium as incentive to keep to an established timeline (that is within their control). 

I'm a partner at Launch Control and a former Batch user.

@Jeremy Bloom  the rag on the thermostat can be beat by placing a remote thermostat that is set to the legally required temperature with that remote thermostat actually controlling the temperature.