Go online to "repairclinc.com" they have a wealth of knowledge on appliance repairs & OEM product cross compatibilities.We had a Samsung glass top circuitry fail on us & using the model # & Serial # I called Samsung & found it was warranted for 5 years so they 'eventually' showed up & replaced the entire glass top.

If it's day one then it will add a premium for being open to investors, unless the concentration of investors is too high and the building isn't warrantable... then that would hurt you. $900 month from 500K equity doesn't sound great.

Is this fear warranted or am I over thinking it?  

You will have to run the numbers to see if replacing the pipe makes any economic sense as it is very expensive to do and you would need some really serious water bills to warrant it.

There are few other things to note on these type of loans:Lien can be under an LLC (size of LLC varies by lender)Pre-Payment Penalties are almost always required 2-3 years (you can take a higher interest rate to reduce or remove this)No appraisal waiversProperties must be NOO (Non-Owner Occupied)Multi-unit properties limited to 4 unitsThese are residential loans, not commercial.Warrantable and Non-Warrantable Condos are PermittedCash Flow from the property determines qualification for programAmortized over 30 yearsRate and Term or Cash-Out Options are available as wellLike many other programs right now, rates are jumping up and down on these across all my lenders.  

The other day I tried to log in and it told me my account had been blocked and removed (I am a quite enjoyer of CI and am certain I did nothing that would warrant a ban from the site) and when I tried again to log in just now it brought me to a very cheap looking page where it asked for my name, address, phone number and email to submit a web form about "something strange with my account" Maybe they were hacked? 

They are warrantable and non warrantable.

Can't have more than 20% rental due to warrantability for mortgages.

The main tenant base is, and I quote Sally's exact words, "black men with warrants".

The main tenant base is, and I quote Sally's exact words, "black men with warrants".