This isn't legal advice, and I don't have a real-world example, but some coverage issues to pay attention to might include injuries to common law employees, injuries involving liquor, and punitive damages for gross negligence.Keep in mind that umbrella insurance policies are negotiated contracts like any other insurance policy.

However, if you wanted your tenants to pay those utilities as well, I think you have an easier option without going to the trouble and cost of sub metering. 

The property has three 2br units and the rents are as follows with tenants paying all utilities but water :Unit 1: 800Unit 2: 750Unit 3: 650(Unit 3 is mine and a room is rented out to a friend) I haven’t received my first water and electric bill for the house lights but those shouldn’t be too excessive.I want to start working on putting together a deal for another multifamily with 3-4 units in about a year.

The advantage of having an up-to-date RE accountant, is that they can help you strategize utilizing tax benefits, that a non-specialist may not even be aware of.

What’s the most common way to keep track of your properties without hiring a professional acocuntant or manager?

@Chris Seveney Question for REOs, Is it common for banks to purchase at the auction and then re-auction the property rather than placing it on the MLS or the HUD?

If you say utility bill - easy to photoshop.

I have $50,000.00 to invest and I found $70000.00 patio home. so I decided to buy with 20%down and get the traditional mortgage but quickly realized that I have to pay roughly $3500.00 load processing fee to get the either 15yr or 30yr loan. question #1 should I use HELOC(which processing fee is in 7 to 800ish) from my home to pay the rest 80% and try to pay off as fast as I can or just get the traditional loan and utilize the tax benefits?

You can then bill additional fees/utilities, etc as needed.

Can we deduct our usage from their utility somehow?