This house had 12” of water/ice in the basement... there’s a nice sump pump set up just sitting there with no power...

I got a very good price on the building (about $25k per door), but it was a ton of work as in addition to tenant issues, there was TONS of physical distress (foundation repairs, sewer line and water line repairs, electrical upgrades, new roof, and apartment renovations needed for all units). 

However, if for example, the company did not install or disconnect the washer and dryer correctly (such as leaving a valve on) while water is turned off prematurely, causing damage, what language do you put in the Lease to also hold other parties accountable such as ALE and appliance install company?   

If I buy a house for $400k, and the market drops and the house is now worth $300k, I am under water.

Im not a lawyer, Id flip that house though. maybe get the priest to come throw some holy water on it. 

We had 21 units that took water that day, and it was a rough month.

There were plenty of challenges from removing a homeless person off the property to a water pipe in the basement letting go.

The agreement stipulates:"The owners agree, that no water shall be used for commercial purpose, but only for their private domestic use including vegetable gardens and livestock maintenance."

Water bill triples so they want to check for leaks, too many cars parked in the street. 

(Except of course for a simple permit like a water heater, where a Licensed Plumber could get one.)