In your case though, I may consider letting the second underwriters know ahead of time just so you can get the appropriate pieces of information together (I would think as long as you have ample reserves to cover both properties and can show a solid future plan for rehab and rental income potential, you should have a better chance of it not being a problem)

And very cool on the financial background...that will put you miles ahead in buying properties because you already know numbers.

One option that may work would be to go ahead and include water/sewer/sanitation in the lease but only up to a certain reasonable limit. 

It can also be used to help visualize any long lead time items that have to be purchase ahead of time.

Still, I think that I have learned a lesson which is - go ahead and make the offer even if it's less than their counter-offer.  

I don't want to rush everything and make mistakes just to make the deal happen. 

Common here, septic tanks get a perc  test, water test the well at the well head or ahead of the pressure tank.

Personally, if I were you, I wouldn't be rushing to get a property for this tenant.  

@Caleb Mclamb Put the money in the bank and don't rush into doing anything until you thoroughly understand the niche you are interested in, your local market, etc.

However; that too has its risks, and there has to be some safeguards in place so as to release funds based on work being done, etc. and not get to far out ahead of what's happening on the ground.