Does this essentially mean at some point I'll be responsible for unpaid util bills? 

@Matt M.Care to explain your response?

Thanks for your responses.

I just feel like it wouldn’t be a very responsible decision if you couldn’t  reasonably afford the place without renters.

In the meantime, I had a bad experience with a local (Seattle area) custom cabinet maker so I'd love some recommendations on folks who do high quality work, but are reasonably priced and responsive.

We want to have a contract in place stating who does what, who's responsible for what, who get's what cut, and who will invest what. 

Hire a lawyer that you trust and ask them to make a few calls for you, maybe write a very clear letter and see what kind of response you get.

Real estate adds responsibilities, and you should move forward cautiously, measuring those responsibilities against your income.

I apologize for the delayed response here.

Clearly define who has what role and what financial and day to day responsibility each of you has.