These amenities would separate this property from competing properties $100/SqFt = $9000$120/SqFt = $10,800$135/SqFt = $12,150Heating: Every comparable home featured natural gas heat, and it would be advisable to upgrade to natural gas.

We worked it out with the electric company, but it has cost me nearly $2000 to install meters and properly ground the electrical system.The property was never connect to natural gas, causing our tenants to live without hot water.

The key statute in NC for electric and gas is Master Electrical and Natural Gas Meters Prohibited.  

Marc Ramsay piped in that he has done deals of a similar nature to yours and gets 10% of the equity.I think that there is general agreement that bookkeeping, tenant management, etc is worth 5-10% of the collected rents on an ongoing basis.

While she knew how to drive, at least by following traffic laws, knowing how to put gas in the car and knowing air had to be in the tires, she had no clue about what was involved in keeping her car up.BTW, this was the same sweet beauty that tried to put oil in her car through the dip stick hole!

How do you try to protect yourself from liability from fire, natural disaster, injury, etc. in the lease?

I say sham because of the nature of calling the purchase agreement a lease.

That depends on the nature of the correspondence. 

Tenants pay for electric and natural gas. 

Wow, that is something of a very serious nature and must be dealt with promptly.