The firewalls seemed to do a terrific job to prevent the spread of fire but the two houses adjacent to the point of origin endured significant smoke and water damage during the extinguishing of the fire.  

No firewall protection between that unit and the main house. 

So, I am willing to shell out more costs to a PM to put a firewall between me and my tenants.Now, I suspect MikeOH is going to chime in and tell a different story.

Cons: $$$ for separate water tap fees, additional firewall requirements, party wall agreement or CC&R's to record, survey costs, zoning review costs. 

One being the completely separate utilities and the other is that a Townhouse will need a 2 hour fire wall between the units.

This seems like a great tool to provide a legal firewall between assets without the hassle of additional tax returns.

That would involve a very strong firewall between any existing activities with the other two partners.

It seems that the investor didn't really get it that they were all run as separate businesses with firewalls between them.

Firewalls are more expensive than you might think.

In newer duplexes in my area, they tend to build them with a single wet wall (where all the plumbing runs) that is also the firewall between units.