You can tell this is built on years of knowledge and trial and errors.

Is this common? 

In most parts of the Baltimore metro area the water bill must remain in the name of the owner.It is common for tenants to pay the water bill, but is the owner's responsibility to collect water reimbursements. 

If you see any errors or want to know more feel free to let me know.

Common laundry rooms.

I have heard it is a very common tactic to refinance into a personal name, and then move the loan under the LLC name, and while there is almost always an acceleration clause involved in a mortgage, they are rarely called due, because the lenders only care or are even alerted when the mortgage goes into default.  

I will take this error and learn as well.  

I have looked into "corporate" umbrella policies, but those have tended to be overly expensive in my findings.One thing you can do is require all of your tenants to purchase their own renters policy, and that will help cover most common things.And jumping ahead to an LLC, buying the property personally is going to be your best bet, since you are living there. 

We do need to be mindful and I believe that the elderly and immune compromised need to be isolated but not the young and healthy who respond in a similar fashion to the common flu.

If they did tell you, in a MFH setup where there were any common areas I think you would have the responsibility of notifying your local health department and letting them assist from there.