Where it comes into play here is the older buildings with asbestos pipe insulation, or asbestos in joint compound and window caulking.

Spending time looking for clients is exhausting, why not let your clients find you instead?  

Trying to manage this yourself is basically an open invitation for pretty big problems (e.g. break-ins/vandalism, frozen pipes/water damage, etc.) -- failing to hire a property manager in an effort to save some $$$ when you're not local AND you're not intimately familiar with the market is almost always a penny-wise, pound-foolish move.

During the inesption, it was found a drain snake was broken off in the sewer piping and the tenants reported previous backups. 

If an underlying policy, (ie. auto, home, boat or rental dwelling ...) has its limits exhausted by a covered loss, the umbrella will start paying at that point.  

This often forces a landlord to put utilities in their name to protect their property (think winter, no heat, frozen pipes).

What about utilities when you have a vacancy in the winter and don't want the pipes to freeze?

If they conclude they were sold a pipe dream, aren't they all want to sell, presumably at a loss given the oversupply situation?

Older buildings can be an issue, we had to put some spray foam around the heat pipe entries. 

cost to sell are going to be 10 to 15% minimum to plug into TK resellers pipe lines.. have you run the numbers  lets say purchase rehab is:PP 70krehab  30k  pretty average in that age class assets in Cleveland ( keep in mind I funded over 300 deals in Cleveland personally in the last few years so I do have some experience in that market).So 100k all in.Cost of capital  2 points 12%  plus your going to need at least 30k in cash to pull this off. lets say your super good at what you do and can do it all in 6 months.2 points   2k  12k  6 months  6k   for total of 8k  HML will hit you with another 2k to 3k in junk fees so thats really 10k in borrower costs.tAx's  lets say 1k for 6 months.Closing costs when ou buy 1,500 to 2kClsoing costs including commish and seller concessions and title and escrow at least 10% Utls and insurance  1500.0010k profit So that all adds up to an exit sales price that needs to be at least 124,500 hard costs and now you need to sell for 130k to 140k to make your profit. and given where investor want to be they want 1% rule or .08   so use 1% for easy math they want that house to rent for 1300 to 1400.