Potential rent on 5-unit $2,575/mo All of these rental numbers look great to me, but as of right now it is all a pipe dream as they sit vacant and in need of a remodel.

the tenants include computer repair, pipe shops/ "head shops, and professionals like attorneys.

So my first property I was hoping to have on market needs it’s gas pipes (from street to the meter) replaced.

I still have the container of pipe dope he gave me when I asked his recommendation.

If the business is not making any money then the value is generally on the equipment etc. for liquidation and that is usually 10 to 25 cents on the dollar.1,500,000 purchase price for a business breaking even is a pipe dream.Generally sellers sell on 3 times profit earnings so the business would need to be throwing off 500k profit a year after expenses.

How can I be proactive in protecting the pipes?

Likely, if the lady is in Raleigh and reached out to someone in CT, she has already exhausted potential suitors in Raleigh...

*Check the functioning of exhaust fans (range hood, bathroom, etc.) and wipe clean the area around them.  

They are also looking at buying up to 4 properties in 2018 for up to 10 million each.I tend to agree about apartment buildings in that tenants often work minimum wage or lower tier type jobs and are exhausted on the weekends and want to relax with friends and family.

There was also some broken pipes in the basement.