If the pipe is 50 years old and had a life expectancy of 30 years, they're going to argue it was due to lack of care on your part and try to deny the claim. 

I would not expect a meaningfully lower rate and pmt for likely several years. 

We got our required and expected profit that we calculated at the very beginning.

Here are some practical tips and insights based on my experience managing a real estate fund and working in this field.First, setting realistic expectations.

We had a client that bought in Port huron and then ended up selling their property because they went through 3 PMCs and gave up trying to find a great one:(Some copy and paste advice below:--------------------------------------------------------------------------------------------------------Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

- Trying to meet the unrealistic expectations of newbie investors is tough/impossible for even the best PMCs!

Expect rates to be higher with CLTV capped at 70%. 

If the marginal cost increase in buying a house that can be house hacked (a house with a basement, a duplex, etc.) is less than the rents you expect to bring in from renting the additional space, why not do it?

Neither path was completely hands-off, but the returns turned out higher than we initially expected (despite all the lumps and bumps along the way).As for Lakeland, I think @Andrew Haley's observations about mobile homes are spot on.

I expect a free estimate from a contrator who possibly would be doing the actual work.