You're on the right track, I got started in a similar fashion.

If none of those are factors and the property is not distressed in some fashion it could be as simple as the lender is over exposed to real estate and wants greater protection for taking on the loan.Also in my experience credit unions tend to have tighter lending requirements.Best of luck with your investing.John

There are a couple of decent ways to get contractors:-Check your local building supply house (not the big box stores).

Read this the other day regarding Donald Trumps recent executive order on examining the affects of regulatory barriers at the Federal, State, local levels on the availability and development of affordable housing. https://www.whitehouse.gov/presidential-actions/executive-order-establishing-white-house-council-eliminating-regulatory-barriers-affordable-housing/The order states that the council endeavors to encourage State, local, and tribal governments to reduce regulatory barriers to the development of affordable housing.Which in turn, aims to increase the supply of affordable housing.I asked myself what effect will the have on the REI space and my first thought was that the increase in supply will cause rent and values to slow down or possibly even stagnate all together. 

@T Smith mostly supply and demand.  

The supply isn’t keeping pace with the demand which is why prices keep increasing, commute times keep getting longer, and the boundaries of the city keep expanding.

I still say a 100 gallon tank only setup can't be all that is supplying it.  

Seems like still too little supply for heavy demand...any thoughts?

The housing market around the country is compressed with low supply and high demand.

Most places water bills (since water is supplied by the city) stay with the property but delinquent gas and electric bills are the responsibility of the tenant not the property owner.