The "Value add" by most wholesalers usually adds up to a big fat zero.

They paid themselves fat fees even though fund was losing money hand over fist.

The result is unwanted interactions.

These are just talks we have from time to time on experience with how a GP thinks when sourcing and evaluating deals.For value add I only do very fat deals now to syndicate for single tenant.

Pigs get fat while hogs get slaughtered. 

I would suggest something to the fat like " Upon purchase, buyer assumes all responsibility of property and ....

If its the original 4 to 6" red clay pipe its very likely you have root intrusion every 4 linear feet at the joint.Yes you may have collapsed pipe or fittings.If you lucky you may only need what is called a "point repair".If you got original clay pipe its time to think about  replacing it with black ABS plastic pipe,cast iron or PE polyurethane trenchless pipe.Youll see a world of difference and no more phone calls from angry tenants.The plumber will use a pipe camera with a built in transmitter to see and locate the exact problem area,then they dig things up,cut out minimum concrete remove and replace bad pipe and fittings ,replace and finish concrete ,test and inspect again with video camera.How much work is needed is anyones guess especially in an older property.If you are on a septic your drainlines MUST be in perfect order ,,,if you are on city sewer,,not so much.On the grease issue there is a great product called Bio Clean which is a grain based enzyme which works great but you must use it once a week ongoing.Of course if you get the cooperation of your tenant to isolate any grease or fat and put in a plastic bag freeze it and throw it  in the trash you are miles ahead.Tell them if they do that they wont have any more of this kind of inconvenience.You can only get Bio Clean from a licensed plumber.Hope this helps and let me know your outcome.Dave DoyleLos Angeles

Now our goal is to refinance those properties before the end of the year so my banker can get a big fat bonus and I can get out of high interest.   

Again barriers to entry are steep but finding tenants and getting a nice fat rent check is very possible. 

Doing it the other way, I can get fat returns and acquire 20 properties in the same time frame while still having tons of liquid cash  available.