In regards to water mitigation, you can install water efficient toilets and water efficient shower heads.

For example in my market, the cap ex/maintenance on a hot water heater is ~$15/month(my market mandates slightly more expensive water heaters than most locales and plumbers in my market are not cheap).

4 - What would you estimate for average monthly power, gas, water, and trash (I know, this is going to be a wide range depending on # of occupants, climate sensitivity factors, etc)?

These are the outlets you typically put near a water source such as in the kitchen or a bathroom in case the outlet or what is plugged into it gets wet it trips the outlet and cuts off the electrical supply so the person is not electrocuted.

At the beginning of my career we had a girl that didn't pay her water bill and her water was cut off.

If any are tied to the home (eg water), have the bill come to you and then the tenant pays you.

Furnaces break, water heaters, roofs, etc.As your question, as noted, every traditional lender will want to see stable income coming in to support the recurring mortgage/HELOC payments.  

If the property is vacant for a specified number of days (30 - 60 days) the clause will eliminate or reduce certain coverage (water damage, vandalism, etc.).  

Property has 3units 7bd 3ba Sqft 2352 build 1962 Style CCCustomer is willing to hold the note on the home with set amount she is older and don't count on living forever.2 units occupied total of 2870 in cash flow1st flr $1790mth  3bd 1 ba2nd flr vacant ($1700-$2000 potential) 3bd 1baStudio $1080mth 1bd 1baTaxes is $12321.27yroil 3 zone furnace City Water 2 Electric boxesLocated 45 Min from New York5 min from University and College3 Different Mountain Trials and Parks  Shopping District and Medical Centers What questions would you ask?

., boiling water poured down the mound) or any one of the chemical treatments the big box stores have to deal with them.