We have a lease that stipulates rent is $525 per month and the tenant is responsible for all utilities.  

I dont think you can if you are utilizing a third party escrow account - even in-house escrow account would hinder this. 

Also, $400/mo in utilities?

Many title searches/insurance policies supplied by REO title firms will not include, and have exceptions for, any unrecorded liens....such as utilities, code violation fines, etc.

I wouldn't put any utilities in my name.  

The reason I got notified of your comment because I have keyword alert setup and because I'm following this forum post (these are useful tools to utilize, look into that if you haven't already). 

@Phillip Syrios They probably look at debt/income ratio, credit limits, card utilization, length of employment, delinquencies, and bankruptcies.

The code violations, city/county/utility debts stay withe property.  

As far as your question goes, my best advice is to utilize an attorney that is well versed in real estate law as well as barred in the state you are looking to invest in.

Flips and wholesales may be utilized intermittently as opportunities to work with other investors and grow my capabilities, and for short term capital growth between buying new properties to hold.I am also involved in short sales around New York City, particularly Brooklyn ,  and am always looking for a good deal around there as well.