Utilities, ect. 

It's a very common overlay you are encountering.

I do not want to make that a common practice since I am trying to reuse the same bucket of money over and over again.As far as knowing what expense amounts to use.  

I have good credit with a very low credit utilization at the moment, and I don't really want to jeopardize it too much.

If you do not have the common scenes to avoid what you have already anticipated there is no way you will end up as a better investor.

In that regard you have no responsibilities for maintenance or utilities because it’s not yours (unless you have to foreclose).

Account Closed Multiple buildings on a single parcel is very common, but does not fit into the State Farm box very well.Other insurance carriers write a single policy with 9 buildings listed. 

Background: I had a rental that I recently sold, utilizing a broker/contractor to rehab and sell.

I'm not sure exactly what your operating expenses are BTW, but let's assume it's 45% of monthly rents including insurance, taxes, utilities, vacancy and maintenance reserves, and property management- 1350/mo.

There are endless ways to set this up, but the most common that I see is a 1-3% acquisition fee, 1-3% asset management fee, 6-9% preferred return and 60-80% of the ownership equity to the limited partners.