I checked our installation price list and the pre-plumbed option is $4000 for grey and black water plumbing in addition to hot/cold plumbing with a hot water heater.

You buy a property and you make plans / reserves on things going sideways.A lot the bad stuff that happens never gets on YouTube a year before it happens (look up "black swan").

Pretty sure, black mold is everywhere, the basement has been flooded and I think squatters have been living there.

I think some of the responses here are a bit too black-or-white.  

@Brendon Kerrigan Add yourself to "Black Diamond REI Insiders" on FB. 

Even the renovations he does do (seldom) are not only of poor quality, but of poor choice and taste  (our buildings are beige with BLACK accents, AND SO ARE THE KITCHENS).  

But for me, it boils down to the rationale that when I fall on hard times when the black swan comes around, I will not lose that precious asset, even with the worst of situations hitting me, because only uncle Sam could take it away now, but compared to other bills, taxes are cheap (at least relatively, my property taxes are cheap for now).

Overall it's not a bad idea but you really have to be paying attention to keep the money from just going down a black hole.

They used black poly and re seeded the lawn.

@Ashton KarpI am an IT professional for the University of Minnesota, and I buy my wife a $500 HP laptop every five years on Black Friday, because you get a hell of a deal