Metal water pipes start filling in as they get older, check the water pressure to see the condition of the pipes and for leaks and don't forget to check for leaks in the drains. 

I've gutted properties less than half that age and saw broken pipes, their idea of insulation at the time, etc. 

The problem is I don't know how much of a pipe dream that might turn out to be. ;)I should add that this is only one "strategy" we're considering, and we're only considering it because we do desire to personally live off-grid way out in the country someday.

Electrical:Basic screwdriver setneedle nose pliersvoltometer - circuit testerflashlightelectrical tapemurretsPlumbing:large and small pipe wrenchhack sawcopper pipe cutter (I have one big one that I can change the blades to, and then I buy a cheap very small one for tight spaces that usually lasts 5-10 jobs)pex crimper - if you working with a lot of pex.. if you only have one job you can rent this toolcresent wrenchimperial and metric wrench setsocket settorchConstruction:carpenter squareregular squaretape measureskill sawdrillutility knifesnap chalk lineIn my opinion those are the basics that should be in your tool box at your disposal for all your needs.

If I were to get my park back up and running, I would be adding the ability for the trucks to plug in (cut down on generator noise and exhaust - I would charge for access or build it into the rental fee, and most food truck operators would love this option), add real bathrooms, and add other features as an additional draw to get customers for the trucks. 

In my area, copper theft is typically seen in vacant houses where drug addicts break in to steal mostly the copper pipes but sometimes some wire as well. 

It's imperative to have a plan for covering interest-only payments once the reserves within the loan are exhausted.

Syndicator proposal was to unload property after 5 years (next year) and that seems like a pipe dream now. 2 years without a distribution and now on the 3rd PM.

A major expense can wipe out years and years worth of "cashflow'- A property that cash flows on paper is different from a property cashflowing in reality...There are many times additional expenses to be aware of that may come up in some markets that you are not familiar with...in my case some items were pipes freezing over and much higher vacancy than was figured in initial calculations.- Markets that have very high cap rates as a whole such as 8% + are typically markets that are perceived to have much higher risk and likely will have little to no appreciation at best and more likely would depreciate.

Just because you own a pipe wrench doesn't mean you're a good plumber or that anyone should trust you with their home.