I cannot monitor water usage at this point however, once sub-metered, I can pin point who is the culprit.

You need to be an accredited investor in order to be eligible to invest in certain private placements that are not directly overseen or monitored by the SEC.

I think I would go your route and nicely ask my tenant about it and just monitor it from there.

Same if you have a master electric, you can meter the main line into each units main panel, but the install alone can be every expensive, and once again, would be your responsibility to monitor.

You can also monitor the phone system to ensure they are doing their job.I prefer owning out-of-state or out of the area.  

I would rather be aware of the pets and be able to monitor their presence than have a tenant sneak in an animal, which they tend to do.At this time, I'm a small enough operation that I can develop a personal relationship with my tenants.

Too many complications can arise (insect damage, rot, leakage, shifting off footing, and ultimately collapse if not consistently monitored and inspected) DO NOT buy the house without getting a proper inspection done on it first.

So, I signed up for credit monitoring, followed all of the advice, paid all of my bills on time, and waited.

There is also a monthly fee for security monitoring.

Very interesting topic though and one to monitor.