Lesson Learned: Plumbing Inspection saved me $30,000+

[Austin Fox]

Hello BP,

I am in the process of trying to buy a duplex down in South Florida to house hack. Like everywhere else, the market is insane. However, I managed to get a duplex under contract at a decent price with a decent return. When it came down to the building inspection, I had the opportunity to pay the extra $500-$600 for the plumbing inspection. So to protect myself I did it and well...

Everything looks great on the outside but not always on the inside. The entire pipe system is decaying as we speak and needs to be replaced. The piping system is made up of cast iron and the building has some years on it. The plumber couldn't even get the camera through because of a built up corroded pipe. Total Estimate of Repairs: $50-60k. If you don't fix it and it breaks... well you can only imagine how bad that will be so....

The deal isn't dead yet as we are still negotiating, it could turn into something really good. However, to those starting out like me, do your due diligence and don't be cheap on the inspections. I am still a student in this game and learning but this is a lesson I would like to share with you guys. 

Best of luck to everyone!