Lastly, if the HOA is embroiled in a legal battle, it can cause havoc for all the owners. 

Not saying a flow meter can never fail but this will be a tough battle as the city has monthly water readings for documentation and you do not have anything other than assumptions.

Your question is a very important one, as finding great deals is way more than half the battle for successful real estate investment, IMO.At their core, most strategies seem to be to focus your acquisition targets and process to either eliminate as much competition as possible while still acquiring quality properties and/or by developing and leveraging a competitive advantage.

I never have to battle weather elements because my position is inside a processing and distribution plant.

Is it really that bad if you do your screening right and get good tenants in there or is that half the battle, too?

The City is regressive on many levels and they will keep losing legal battles as long as they use taxes and fees as there only revenue generator.

@Brandon Battle Thank you, that was what I thought just wanted to confirm.

I spoke to one investor locally who has about 40 rentals and he told me you don't need it.I have battled the same question but to me, I think it is advantageous for investors to get it.  

As real estate investors we fight the constant battle of getting approved for funding.

Thanks for the advice @Brandon Battle!