- Highly unlikely you'll be able to get separate water meters installed and submeter system probably too expensive for this few of units. - So, that leaves electric & gas.

We've installed the Moen leak detection device, which detects leaks both hot water and cold water, and monitors water usage and gives you weekly reports.

It had 22 of the 25 lots occupied but we'll be fixing it up, filling it up, billing back water and raising rent up to market.

Since COVID, the demand for cash actually increased, so this is a recession resistant play.

I'd personally say pulling your water heater out and replacing with a wall mount on demand one, would be worth the cost to have in unit washer dryer if you are staying there or renting it, it would be worth it.its always worth doing the big stuff well and correct even if you are cleaning up after someone, the long term hold always prevails, its just a little frustrating front sometimes, but hang in there!

I just don't want to buy that close to the water due to flooding concerns.  

Same property listed water bill paid by landlord so how much does it cost to put individual meters for each property so cost can be moved to tenants? 

Water damage is one thing but getting smoke smell completely can be tricky! 

What happens if the water service line has to be replaced?

OP, keep in mind not having access to heating and sharing same water heater and etc will require an easygoing tenant in the nextgen.