But apparently there isn’t a home on the land... instead a garage with water/electric?

Here are the detailsSize: 15 pads, 100% occupied and all 15 homes are tenant ownedUtilities: City water with each home being submetered directly billed to tenants; septicRoads: The park is on city streets so we are not responsible for road infrastructure, curbing, plowing etc. 

Water damage on the bathroom sink.

Did you inspect the roofs, Hot water tanks, plumbing, septic system, etc... 

He will be living there rent free, sewer, water, trash and electric week be on our name.

@Reid McKay Knightthe fastest way to become a syndicator is to partner with a syndicator who already has a track record and bring something to the table ,deal or cash and you can be on the Gp side of the deal and you will be syndicator in time.

The housing units must be located in the Syracuse Neighborhood Revitalization Strategy Area.PROGRAM DETAILS Loans of up to $25,000 per unit (including closing costs).The loans currently have a 6.99% fixed interest rate and a 6.99% APR.Loans are 50% pay back and 50% deferred (no payback).Landlords can use own funds to match grant funding.The landlord chooses the contractor (contractor will need proper insurances and certificates).The scope of work for this loan will be determined by the lead risk assessment and code violations.PROGRAM REQUIREMENTS Must be current on taxes & water bills, or in a payment plan.Property must have 1-4 units.Buildings built before 1978 will require a lead risk assessment and lead clearance.Tenant information is needed for properties NOT located within the Syracuse Neighborhood Revitalization Strategy Areas.

Currently the top unit is leased for 10 more months at $550 and $25 for water (I pay for water) and tenant pays heat/electric.

How do you know if your tenants are paying the water bill on time when you own multiple properties?

I was then quoted for about $60/mo but the problem is they only want to do their basic coverage which doesn't cover water damage.Any suggestion on what should I be getting as a coverage and why?