He wants to purchase a single family in LA county that meets criteria in regards to zoning and size in order to to build 4 homes/units.

Late fee is considered reasonable if it is not more than 12% of the rent for the rental period under the lease for a dwelling located in a structure that contains not more than four dwelling units or 10% of the amount of rent for the rental period under the lease for a dwelling located in a structure that contains more than four dwelling units or the late fee is more than the applicable amount but not more than uncertain damages to the landlord related to the late payment of rent, including direct or indirect expenses, direct or indirect costs, or overhead associated with the collection of late payment.A late fee may include an initial fee and a daily fee for each day any portion of the tenant's rent continues to remain unpaid, and the combined fees are considered a single late fee.

Ideally, I would like to have each unit get a connection metered by the city, but is that even possible?

I'm a newbie and I'm analyzing a 10-unit property to buy and hold.

Hello everyone,I am new to real estate investment and live in the northeastern United States (New York).

Im in the process of purchasing a brick 2 unit from them.

Also have to remember this just prints the walls, you still have all the MEP rough in etc. to be done. 10+ years ago our stick built home was panelized and it took them a day to frame each floor. 

Also, if anyone has gone through a similar process before, what is the cleanest way to break from a management company that are currently managing several units of mine?

Build the secondary units and legalize them, then refinance with them in place.

Additionally, there's really not any properties on the east coast that have seperate water meters on 4 or under units.