You might need a 2nd well if you're not on city water. 

I estimate high of what the bill would be and put it on their lease, I have not had any issues this way and if the water bill goes up, I will increase on the next lease. 

If the security deposit is not going to cover the the water bill or damages, try to scare him into covering the balance by hinting at sending him to collections and it will appear on any future credit pulls he may have done.

Also, Investors need to be prepared for and understand if there are additional costs that come with foreclosures, such as water bills, and potential fines for property upkeep.

I'm skeptical but I'm willing to test the water to something small first.

He would show up, realize he didn't like the view of the water tower half a block away and back out.- Getting under contract and then reducing the price because of findings is common, but major reductions are likely to tick off the seller unless you have strong justification.

@Bijan SabbaghiYou don’t that’s the challenge - we pull data from several places as a note holder and for example and currently we see less than 20% actually going to foreclosure as most are ending in bankruptcy right now due to borrowers equityThe ones that are under water are typically going back to the bank.Best bet is to find properties where deceased or maybe divorced to get higher chance of actually going to foreclosure

Also consider your lifestyle and if you want to be traveling 3 days just to check to see if a water heater is installed correctly and your property manager is looking after your property.

I have yet to see code violations, water shut offs, and fire damaged properties. 

Welcome to TN, the water is warm.