As Thomas S. mentioned, you can install flow meters in your units, though be aware there can be a good amount of expense involved in this, and you will need to setup these new meters (& the tenants) with their own accounts with the water utility company, otherwise you will still have the bills in your own name.

@Andrew Johnson I’m using propelio because they offer comps in dallas ft. worth where I’m at and a group I’m involved with on Facebook.

I need to understand what is involved in filing this and if this is something I can do myself or need to get a CPA or attorney involved?

Just because you purchased it from a lawyer does not mean that they were representing your best interests.With community rent at $300/mo, I imagine you would have to scale quite quickly to make the effort that will be involved worth any money at all.

I’m not sure what rate you used to calculate your future payment but I’d stress test your deal by looking at some scenarios involving higher debt service costs.

I haven't come across too many 90+ year olds that don't involve their family when making large/important decisions at that point in life.  

He can initiate a 1031 exchange by selling his property to you, having the exchange documented on the settlement statements and having a qualified intermediary involved to handle the process. 

I am involved in a partnership. 

With the highest job and population growth of any city in Ohio, the incredible transformation of areas that 1 or 2 years ago were D- and now B+ its an exciting time to be involved in real estate in Ohio.

People get interested in real estate then realize there is some work involved and life just gets in the way.