You'll also want to ensure you have a good property manager to look after the upkeep of the property if you are not there to notice anything deteriorating or which may need attention. 

The difference is, when you do not caulk the base, that seepage will become noticeable on the floor at the base LONG before it starts causing serious deterioration, providing a major clue that a new wax ring is needed. 

Bear in mind that the COP could deteriorate further against the USD and that the USD is extremely strong at the moment.

Even if you resurface all of it it will deteriorate.

Once they start constricting due to deterioration of the internal wall of the pipe, your plumber visits will continuously increase.You will find fewer and fewer plumbers who know how to work with lead piping ... and probably none of them will want to repair a wipe joint ... molten lead solder is just not a healthy thing.  

He also said he does not break into the home so it is not an illegal entry (although he did not state exactly how he was gaining entry) and he is doing the owner a service by keeping the property out of tax foreclosure and from deteriorating.

What was once a deteriorating, neglected, under-utilized property serving very few if any is now providing safe, clean housing for its residents and benefiting the community.

Meanwhile the lack of investor interest (discussed in my point outlined in the previous paragraph) in pre-1995 property will lead to lack of property upkeep, not to mention the lack of natural tenant turnover (because a tenant is incentive-ized to remain in a rent controlled unit) needed for a growing population/renter base to flourish.A few more ancillary ramifications could be: stagnation in property taxes collected by the city due to lack of property value growth, decline in lower income and working class housing being built due to lack of project feasibility, deterioration and/or flight of the business community surrounding areas of older property because of lack of available housing.Would love to hear your thoughts @Russell Brazil Account Closed

At that age, your physical health will deteriorate, and you will need medical care.

Moreover, the ratio of rents to property taxes and insurance (which, unlike mortgages, are forever and will tend to increase as the neighborhoods/properties deteriorate) seldom provides enough cushion to cover properly reserved capital expenditures.