I'd personally say pulling your water heater out and replacing with a wall mount on demand one, would be worth the cost to have in unit washer dryer if you are staying there or renting it, it would be worth it.its always worth doing the big stuff well and correct even if you are cleaning up after someone, the long term hold always prevails, its just a little frustrating front sometimes, but hang in there!

It had 22 of the 25 lots occupied but we'll be fixing it up, filling it up, billing back water and raising rent up to market.

That would be the key element + no rental restrictions Ramsey,Do not forget there are a ton of REI properties in areas not close to the beach or in a flood zone in Florida. 

Water damage is one thing but getting smoke smell completely can be tricky! 

What is the best overall water metering company you have found when it comes to ease of installation, reliability, and the cost of the equipment and monitoring?

Same property listed water bill paid by landlord so how much does it cost to put individual meters for each property so cost can be moved to tenants? 

You want to make sure you aren't muddying the water and making the tenant think they have longer to get out.

OP, keep in mind not having access to heating and sharing same water heater and etc will require an easygoing tenant in the nextgen.

Like deferred maintenance, (bad roof, worn out water heater/AC Unit, warped flooring, water damage) etc, unpaid utilities,  unpaid taxes, a second loan, unpaid HOA fees, a bad pool, bad reputation, sometimes squatters, sometimes they were drug houses, and so on.

What happens if the water service line has to be replaced?