One thing about cast iron drain pipe is that it is good to actually have water running through them regularly; in REOs that have been empty for a long time, with no water flowing through the drains, cast iron drain pipes tend to be cracked in places where they were weak.

The stairs look pretty good and the foundation ok but the roof looks weak.

Purchase price: $110,000 Cash invested: $30,000 4 unit c class apt- under market rents Crime report was clean Bus stop in local proximityLocal shopping and other necessities close as well Professionally managedProperty Details: 1/1- 500sq feet eachNo AC or window units currently in any units One vacant Base board heatSepertely meteredTenant pay water/ electricReplacement windowsCurrent tenants keep their units nice, they have just been underserved by the previous owners and their units needs some repair Professionally managed with current leases and deposits in placeWith it being a quad all tenants have a trash can ( no expense for a dumpster) REPAIRS NEEDED: 2 subfloor repairs needed in 2 units, flat roof needs minimal repair, 3 waters heaters need replaced, about $1,000 allocated for any plumbing repair, bracing underneath as needed or where any joist are weak.

So the ability to start, examine the market, attempt to make a good purchase but at the last minute decide not to is not a weakness of the 1031 it is a strength.But that being said it's a misconception that a lot of 1031s fail. 

They are very weak on real estate knowledge VERY.

First off, You’ve seem to have done a great job recognizing your strengths/weaknesses.

Your victory over them is your own success.Keep a clear head and they will reveal to you their own weaknesses which you can exploit to your own gain.

So, evaluate your strenghts and weaknesses.

If you pay people to leave when they rip you off, before long every deadbeat will know you're a weak landlord.

I dont know alot about the FRP panels but seams are always the weak spot on any surrounds so pay extra attention to transitions and sealing them.