We have used tile (works best on a cement pad); an overlay decking that comes in squares like tile and rubber mats over painted deck.We inherited artificial turf ... didn't really care for it.  

I tried to convince several dentists to buy the property but they just didn't see it.  

It's sort of like going to the dentist to get  numb.

If you like to re do them every few years do the surround,,,if you want to once and done for 20 years,,,strip to studs, plastic 4 mill,,cement board,,,red guard,,,ceramic tile,,,grout with no seal additive.Clawfoot tubs are four sided slop pits in rentals. 

You can brace and epoxy them just the same as poured cement wall though, assuming it hasn't already leaned too far.  

I was a buyer ... and I had way to much to lose to risk getting caught I bid to my max bid won it or not.. there was one lady that I came to not car for she was the wife of a dentist.. it was her habit to do this. 

I'm wondering if there is any type of bonding cement/sealant I could use to patch the leak as opposed to having to replacing the piping or even cutting off the pipe and capping it.

And yes I have learned my lesson when it comes to "credit" Robert K has it cemented into my mind that if it doesn't make you money don't even consider the purchase (hence assets+ liabilities/toys-).I have to say the process was like knocking doors for a salesmen, it was hard, I took hits and in nicer words got told I was stupid for even making such offers... but like I stated, persistence is key and in the end I prevailed, way under my planned budget.

But they can be brutal in some cities like Cleveland Hts and University Hts, but they're pretty manageable in cities like Maple Hts and Garfield Hts, you just need to know some good contractors that can do cement work. 

From tiles (floor, ceiling, walls) to insulation, to paint, cement, siding  and sheetrock/plaster to name a few.