An IRS lien, code violations (weed abatement, grass cutting, boarding windows-doors, and demolition costs), HOA fees, water- sewer bills all go along with the property providing the property has any of these. 

Right now we are seeing land taking some decent hits (especially what your selling) as disposable income is down and a lot of this land really has no way to be built upon because it lacks any source of water.

We don't want to leverage it for the sake of leveraging it, but we are sort of treading water. 

Even back then there were a lot of high rise hotels where you could get a decent condo-style room with hot water, cable tv etc for really cheap ($15-20USD/night).

If it was municipal water, I would bill the tenant back because the cost would be variable based on usage. 

There is so much variance of tax rates, insurance rates, should the house have a basement, foundation issues, do I need a 1in copper water line or is pex better for the climate, etc.

Water intrusion may be an issue.    

I want them to see what it looks like to take a shot and they've got to see me speak on TV & stage, win awards & praise and they've seen me come home of stories of dead bats falling out of ceilings, cleaning up dog crap in dark basement corners, sucking out water from flooded basements for hours, bloodied, bruised, ect. ect. ect. and now be served with papers. 

Pete is I have to go 150m into the Gulf to get into good deep water, but it's only about 50 -60 to get into good deep water from the Pensacola area.  

However water and gas are trickier for the property has central plumbing with two water heaters and a central boiler system for heating.