Hello BP, I'm currently an investor in the Duluth and Iron Range area (Virginia, Hibbing).

Waste water: Before 1960: Cast iron and occasionally clay (unusual inside a house but found in the ground) and once in a blue moon orangeburg.

It's unfortunate because they are very big and there was a lot of activity, but they need to iron things out.  

Very good question Patrick, what's ironic is that I have a 2 family investment in Bristol Connecticut and in the process of relocating to Columbia, SC next month (warmer climate).

And if someone drops a cast iron skillet, the tile cracks.

Anyway, I called a plumber, and they got the backup cleaned, found the line, popped an "emergency" diagnosis hole in it so they could scope and found the 4" cast iron line rusted through in the bottom which was causing the periodic blockages. 

So renting by the room is probably going to be my best bet until the market irons back out.

Some big things include:- outdated electrical system (fuse panels and knob and tube wiring) - some corroded cast iron plumbing- evidence of termites- landscape is slightly sloped on one side of the exterior that causes water to seep into the basement.

I'm re-staining and painting the cabinets in my student rental and switching out the sink counter (23-year-old white formica with curling iron burns and steel sinks with lots of repaired chips and discoloration) for Swanstone. 

If you have an "iron clad" lease that you wish to share, I would really appreciate it.