Hey what are you going to do with that lot, or you know it is landlocked, or you know it is unbuildable, or you know that is under water, or whatever? 

Get the easy stuff first - rent roll and lease end dates, any bills the landlord pays - common area maintenance, maybe water, sewer, taxes, and insurance.

This is my first extensively water damaged home that I may purchase.

Hello, I am planning on purchase two triplexes that have a single water meter for each property.

Water services.

The house has a new roof, but HVAC and water heater replacement might be needed in the next few years.Also, mortgage rates are currently around 7%.

(Current cost to bring in water line is around $140k or a well starts around 40k with no guarantee of hitting water) What made you interested in investing in this type of deal?

Your architect can create this for you.For hot water heaters, is there a lock on the door to that room?

Optimally, the lawyer or the firm should be familiar with public infrastructure that developers are typically asked to pay for, such as road widening, turning lanes, new roads, sanitary sewer extensions, new water and electric extensions, fire hydrants, etc.

It's probably a vent pipe for a furnace, water heater, or something similar.