We only use a property management firm for our LTRs which, ironically, are located in our home town.

Sewer scope very important in the older homes, typically cast iron is present and its lifespan is about 80-100 yrs. 

Our lease is pretty iron clad and always have everything spelled out, but sometimes those Tenants think they know the law better and they would say the "law" will trump our lease...I always deduct according to the lease.

Link up with a SEC attorney and get it ironed out.

There are still cities with iron pipes from the 1930s that are still intact.

@Yonah WeissMy practice's reading is the same as yours Yonah.Adjusted basis instead of original basis per the code and regs is very favorable, as is the updated May reg language and revenue ruling that land doesn't have to be substantially improved.I agree with your theory that cost segs are even more compelling in opportunity zones and may even be a necessity with some opportunity zone investments based on what we are working with now per 1400Z-2 and the related regs.Still a lot of unanswered questions with those proposed regs, time will iron everything out.

Doesn't seem to be leakage, more like recurrent blockage due to corrosion and the old cast iron piping.  

Sewer pipes are a mix of cast iron and black plastic (ABS it looks like).

All I have seen is cast iron.

I am looking to connect with some people to iron out my strategy.On Twitter I've seen a few people discussing new builds they are seeing that are 1 or 2 bedroom, under 600 sq ft.