If your city has these laws, I would find a way to check each month to see that your tenant is paying those utilities - checking the account online? 

I want to purchase a condo with the loan 100% in my name, with the intention of completely remodeling the unit for potential rental opportunity. 

It is also common in commercial loans. 

If it is a SFR single family, Condo, or Townhome you can use a Vacation home type of loan and only have to put 10% down. 

@Samuel Metcalf- thanks   1) I would recomend getting a HELOC in place on your primary residence duplex  for  as much as  possible...this should be available for  free or a low  cost and the rate will be variable in the  8-11%  range ...prime rate +  margin of  1-3% ) ...the min payment is in interest only payment on outstanding balance   2)  use the heloc for the  remodeling  costs ...pay it down as  agressively as you can   3) on the  purchase of the investmenet  1 unit -  you are  allowed to put as little as 15%  of the price for your down payment ...the pricing you get for the loan will improve  as your down payment  grows so you might look at  75% /  80%  and  85%  ltv  options 

we have until spring of 2025 until our balloon loan either has to be refinanced or paid off (we got this loan because we intended to build, of course) and now i feel like it's a ticking time bomb.we conducted "clean and satisfactory" (no issues whatsoever to build) soil and foundation tests and provided those to every buyer. it seemed (not quite sure here) like they backed out once they reviewed the tests - yet there is nothing negative in them. we will not be providing these tests moving forward (as we had to do them ourselves and feel that each buyer should do their due diligence moving forward!)

Due to inexperience opted for a 10 year loan which is going to clear in 4 years.

Looking online, responses say it adjusts every 6 weeks or so. it has never reduced so far.

Luckily bank agreed to make repairs needed to pass four point.I had to get a renovation loan insurance policy where I paid for a year up front in escrow and they would pull $400 a month till renovations were completed and then I could find a new insurance policy and the remaining escrow would be transferred to the new policy.Paid $540 for an appraisal.

@Craig JonesMost private lenders will want 10%+ return so you mix the loans and you mine as well refinance it at today’s rates.