You will use the same percentage split to determine how other household expenses are split (water, gas, electric bills, etc).

I know it’s safe if you have to sell your property your not under water.

A serious proble is people sell their so-called experience, write  books and newbies, think they  can walk on water, but they drown.

I am looking to keep the land under 100k and I want to move on something very quickly that has access to water or well ( open to digging), Septic, within 120 ft of powerlines, and will require the least amount of work to kick things off.

I agree with everything Zorya said, a few other thoughts:-I assume the 290 for utilities is just to cover the cost of water, common area and bins and then tenants cover their own electricity?

The 2 unit will have to share the Furnace and hot water tank.

. ^^ yes I closed on a house hack a few months ago and this is exactly what my mortgage broker told me, FHA appraisal itself was not much of a problem, the appraiser just looked for proper hand rails, chipping paint, relief valves on water heaters, etc, which are not a big issue unless the house is in bad shape, the bigger challenge was getting an FHA offer accepted over competing offers because of the perception to sellers that FHA is a big hassle/may not close, a 203k loan can wrap money for any needed repairs into the mortgage, so showing pre-qual for that may make your offers stronger 

Remove ponds and bird baths (no water no leaking faucets).

I expect my borrowing costs to be around $2000, insurance $150, water $80, property tax $400, maintenance $150 for a total $2630. 

Are there structural problems, problems with the roof, major problems with plumbing or electrical, signs of water damage, etc.