This years record rainfall had many houses have basement water problems that never had them before. 

Water paid by the landlord.The building has flood insurance too.100% occupancy.Tax for 2018 $ 3241.00Expenses run about $46,000 per year.

This will be market dependent and maybe you can’t do this if the market is very hot, but I would allow yourself a 7 day inspection period.

Anyone have a recommendation for a water submetering system for a small multi family property?

Avoid operation of a private or commercial golf course, country club, massage parlor, hot tub facility, suntan facility, racetrack, gambling establishment, or a store whose principal business is the sale of alcohol for consumption off premises.The 4th requirement is of particular importance with regard to the real estate company in your hypothetical. 

Nice quiet street near the water. 850 sq feet.  3 beds 1 bath.  

So April comes and he gives us a check out of new account for his back rent, water, lates fees and this months rent.

One day, when he stopped on the street to get his shoes shined, the shiner, not knowing who his customer was, related a "hot stock" tip.The next day, JP Morgan started selling off large parts of his massive stock holdings. 

I asked my attorney and he "While the churches are exempt from taxes they are not exempt from water bill or city citations." 

On the other hand in-unit utilities (i.e. electricity, gas, water, etc.) will depend largely on occupancy since a vacant unit won't use any.If you're doing a charge back for a portion of tenants' utility then it will also depend on occupancy since it's likely a percentage of the expense (depending on how your metering is setup).