But to date, I've just set my rents at a rate that accounts for me having to pay the water bill - and informed the residents that each year I'll increase the rent based upon my expenses (including water), so keeping the bill down helps me to help them.But one problem this could cause is if increasing the rent to cover the water bill then places your rent above the market rate.

Best thing to do is start by reading The Ultimate Guide to Grading Cleveland Neighborhoods.

--> This is my plan.

I'm not seeing any mention of this.

Lots of good information.

If you are considering working with them, I strongly advise you to double-check the provided rates and terms carefully.During my loan process, I discovered that they had added a yield spread interest without informing me. 

Mom’s estate plan should probably address this separately from you. 

Don't go out and do this on your own.

Read Main Street Millionaire by Codie Sanchez.

In some cases, we give them a 60-day notice but in this circumstance, we would stick to what the law requires.