Who pays water/sewer? 

I’m using a water damage restoration company that came recommended to me by my home inspection company, and they have 4.5 stars on HomeAdvisor.

Supposedly the next items for him were to be a new water heater in about a year or two, and some carpet...ill verify tomorrow.So help me understand “spread,” and what I should anticipate?

The water is.

The water billing from last quarter to this quarter shows a increase in usage so my question to the PM did someone move in??

That is certainly on the table.

I am thinking about raising it to $2,450 for an additional 2 year lease, so about a 7% increase, but feel I may be leaving money on the table.

Also tell them what you bring to the table as far as credit, cash and investors to get a deal done.

Does anyone know if installing separate water meters is a good thing to do in a multi family home?

I put out marketing packages based on actual numbers because all experienced investors will do their own underwriting and make offers based on real numbers but this is hardly the norm.It would behoove you to look at IREM.org as they have financial information from local property managers in every major market and they'll give you the real numbers when it comes to the cost of repairs, water & sewer, heat, electrical, payroll and other information.Once you have this, you should start practicing underwriting deals with your own spreadsheet or one like RealData so you can learn what a deal will actually make versus what BS brokers put out to market.