Recently, I received pictures of a water leak in the kitchen ceiling, which appeared to be coming from the bathroom on the second floor.

Initially, our plan was to fix the drywall leaks, clean out the property, and relist it for a small profit.

Initially, our plan was to fix the drywall leaks, clean out the property, and relist it for a small profit.

I am guessing that the vast majority of homes 10+ years old had some sort of water damage at some point, most had probably several.My own home is only a few years old and we had the washer spring a leak and a few years later the RO system in the kitchen started leaking into the cabinet.Seller disclosures are pretty useless in my opinion.

They are far more common now and harder to find models without but:1) these add cost to the purchase price2) they don't bring a lot of value3) they can leak or detach and damage the propertyI own around 50 doors and I cap off the line at the wall or in the basement with a valve and a cap so the potential for leaks is 0.00001% :-) 

In terms of maintenance, they are generally safer because you are not responsible for the exterior and common areas and potential leaks, etc.

Water is now leaking through the ceiling into my tenant's unit, and it's worsening with every rain also the neighboring unit has sever water damage (like a pool inside and it is owned by the HoA) and water from it leaking very dirty water from the shared wall to mine.

During demo, if they open up a wall and find a leak that requires a change order. the change order should be specific to that repair and have a cost associated with it. 6.

Now maybe I am wrong and all the POH homes are spectacular and very well maintained with new roofs, furnaces and no water leaks. 

Want to buy an old commercial building or gas station that had leaking PERC or leaking gas tanks?