Recently, a real estate friend suggested I consider starting a title company, as he and his partners (primarily in commercial real estate, like strip malls) could bring business my way.While I’ve worked with title companies in my transactions, I’ve never explored the inner workings of how they operate.

Look into (and Google for) building science websites that will give you the whole scoop. 

The restrictions can be pretty brutal. 

Others who focus on CoC (I focus on IRR and EMx) will probably comment as well, but most "good" CoC returns are in the 6%-10% range.Out of curiosity, did you buy the property for $75k and is the ARV $130k? 

I have done 1 year and 3 year terms over the years with them.

My gut says you probably want/need separate policies for the different entities at the very least - the purpose of having them is to keep things separate in case of a lawsuit, so combining insurance would pierce the veil and allow someone to come after everything. 

Nice job acquiring the first deal.

He's a partner in an STR management company and is very active in that sector right now in the Charleston area. 

On the other hand, they will manage investor's unit as part of an 'apartment complex' (https://www.zillow.com/b/6734-summer-fest-drive-109-110-san-...).

Pass-through utilities are those that get billed to the landlord, and we pass the charge on to the tenant.UTILITIES.