For something on this lower end of the scale, I'd be reluctant to pay more than 50x mthly rents (i.e. the 2% rule), unless you were absolutely convinced that the landlord was extremely naive or uninformed, and the rents can be effortlessly raised $100/mth without major updating.I'd still encourage you to think through all the expenses that you'll likely encounter over the span of time.

But within that range there is a huge span of value.

So Im not prepared to sign away that kind of profit for that long of a time span. 

As far as the idea that they held the apartment from other people and that they should be able to keep the money because of that, it was literally a two day span total.

I doubt any contractor builds a porch to standards required for an addition, it would be ineffective cost wise to overbuild a porch, but then again, If I did it, it probably would have been overbuilt.I'm the only guy in this area that used RR ties as piers for a deck 3'above grade, with 2x12s as joists for an 8 to 10 ft, span!

But in thinking of all the markets you mention, they all really span a wide variety of opportunity in terms of what is offered (if anything).

The life span of galvanized pipe is generally 50-60 years.

I personally selected and presided over the management of every project spanning 6 states. 

I looked at over 100 homes in the span of one months putting in 7 offers and loss all of them, because every home were multiple offers and most are cash offer.

But because there are at least four beams instead of just two in the corners attached to footers with a cross beam on top of them spanning the width I would say that this was a DIY fix.