The most common reason for a high water bill is a toilet that constantly runs or flushes.

If they are on the deed, the property is owned as 'tenants in common'.Is there a tenants in common agreement?

Had an issue with trying to self-permit a build a few years back that was an HPR but had an "A" and "B" designation.

My underwriting would have this large negative cash flow for 7 years.I would do a thorough underwriting but want to show using quick math the issue so I will use the 50% rule.  

That has stopped but we do feel it to be a security issue. 

If you care to learn about the distinctions, read these posts:https://www.biggerpockets.com/forums/517/topics/1215989-expl...https://www.biggerpockets.com/forums/51-tax-legal-issues-con...2.

@Ryan Brown - I would definitely recommend giving their section 8 a call and advising of the issue.

But it's rapid price growth and sales activity could indicate a more volatile market, with the potential for corrections if demand slows as affordability becomes an issue.

However, for major issues, STR insurance ensures you're fully covered.

Some places do this annually, some places do a portion of the town every year giving them a total cycle of about every 4 years, and in my area it’s common to do a whole town reevaluation every 4-5 years.