Here's what my insurance provider told me:----------------------------------------------------------------------------------------------------------------------------------The damage would fall under the liability portion of your policy.If you knew that the water heater was going bad and didn’t take any measures to have it repaired/replaced, then you would be negligent and the policy would cover it, less your deductible that you're responsible for.If you didn't know that the water heater was going bad, then you weren't negligent, and liability wouldn’t apply.

Water meters?

When was the roof, HVAC, Hot water heater, windows replaced?

.- Ask seller and confirm with the county of local utilities, does it have water, power, can it perc?

Always include, even if you're planning to self-manage at first.What about water/sewer, lawn care, and professional/admin expenses?

Found my hot water heater controller and whole house shut off valve on Amazon.

Part of appeal for purchasing is that fact there are existing pad sites with water and sewer hookup in place. 

I was also told by random friends and family that I should write off my electricity bills and water bills but I feel like I'm getting bad advice there?

They were built in 1948, fully permitted and have separate electric and gas metering and share water and sewer service.

That would leave me $1,233.00 net minus $225.00 for garbage and water/sewer.