A couple drips of water can ruin the whole job.  

I currently have two and one of my units are under water as well.

FHA loans are not for pure rentals.  

"How to live in your foreclosed house for 2 more years rent free""How to stick your Land Contract Lender with your water bill"Your original post was quite vague but you will get credible help here without paying money to a lawyer that should be going toward saving the house.In later posts you give more details and get good sugestions. 

Anyone have any experience/wisdom with submetering water in a multifamily building in the Milwaukee area?

I would recommend splitting utility bills equally between you two as well, if everyone has buy in for the bill, they're less likely to leave the hot water running for no reason.

I’ve just been surprised I haven’t read more stories about landlords taking the law into their own hands like taking the front door off saying it’s being repaired or cutting the water line etc….

The septic failed it's inspection and will need to be fully replaced, I received a quote for $30K which is accurate to the system needed and high water table area.

Is it on the water (bay)? 

Look out for water intrusion in the basements which can be an issue in much of the midwest.