When I inquired about it, plumber said lining, it is usually not prefect since this is PVC breakage not just pipe cracks and the cost saving is not significant enough and maybe headache down the road.I will try to get more quotes and maybe a company that specializes in pipe lining options.I was told foundation work / under slab pipe repair is common in the Dallas TX area due to soil type.

In a great and popular location with rising rents and upside on price with renovations but also that will cost in the short term to improve the property. 

Should I make an offer with the qualification that all furnishings, dishes, pots, and pans stay, except for "personal" effects?

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Pretty easy to get a $6,000 to $10,000+ sewer dig up and replace cost if it's a perfect wide-open area.

How much upfront costs are typically involved in a project before you know if it's a viable project to pursue? 

Way better returns on the cost seg than you'd ever cash flow from an LTR. 

But, these broad market studies are so large, they are almost meaningless, in the real world.Between glut of new supply in many "hot" markets coming online, a continually softening economic outlook, inflation over last couple years making day to day items feel cost prohibitive, many average renters are strapped and seeking lower cost housing.  

If rates dropped 1-2% on a $600,000 home, it would cost a buyer $3,400 a month.

May I ask what it costs to join?