Do you guys think this is a good practice to continue or should I call the water company and get another meter ASAP? 

DO NOT PAY FOR WATER OR TRASH.

If a freeze is coming you should provide 24 hours notice to check or winterize equipment.All of this should be clearly spelled out in your lease.If the house is on fire or water is pouring out of the house no one can question emergency access. 

We had done everything we could on our side thinking that the water was entering our home. 

That is, put plainly, a bold faced lie, no one who knows anything about mortgages thought, or thinks, that 2020-like profits (either overall profits, or per unit profits) would continue (I mean, I wish!!!!).

I'd like a place that has good access to a variety of restaurants and is in close proximity to water.

How much is water, septic and sewer?

Are there credible syndicator that accept less than this amount if someone just wants to invest a smaller amount to “test the waters” ?

The electric is separated and provides hot water.

Don’t discount the expense of improving it with septic, water, and power.