@Paige Gardner it depends on the person. hml are my last resource, it's a option for sure. 75% too high for me. that's the game for them, that's how they make its money. don't take it off the table but definitely explore ur options. 

I'm new to the real estate investment game and I'm a bit nervous about dipping my toes into unknown waters. 

Your question about hydrostatic pressure is getting into the weeds for sure...I would ask myself, does the potential water infiltration have the possibility to damage the unit and tenant property?  

The people who actually have an incentive to ensure you make it to the closing table are all telling you 5% down conventional, maybe there's a reason for it.

When i replace water heaters i replace all the short pipes.   

We can also include rehab financing, if there is any value add opportunities with this deal you have on the table. 

I have seen this range from as low as $100 up to $300.Do I need to pay anything before sitting at the closing table?

Otherwise, you may need to replace a water service (13-15k), electrical service (10-15k) and upgrade wiring (This is a tough one, but maybe an additional 8-15k inside).

While we were onboarding the property to the system and trying to figure out the automated sprinklers, he was out there every day watering the lawn by hand, stopping the buck and taking personal responsibility. 

As I mentioned we have looked but with house prices rising constantly with outbidding making it worse we have had to table the idea until now.