We have flipped 2 homes there and both needed new septic tanks and drain field. 

Over the many years, I've seen these things destroy a lot of people.IMO for a short time they provide happy days, but inside them is the shark that will "come a callin' ".As a very conservative investor, these are not on my Swiss Army Knife, but I recognize the Risk/Reward situations they are used for.

I’ve put two new kitchens and baths in, new flooring and carpet, two water tanks, one new furnace and one newer secondhand furnace.

The number of sharks in the water right now is way higher than it's ever been.And then there was a complete lack of house building during the depression in the last few years, as the economy gets back on it's feet (slowly).

I'm from Bear, Delaware and i have been placing offer after offer on a plethora of properties within the area with conventional loan pre-approval and 20% down.Let me tell you all this.There are sharks out there who are throwing hard cash on the table and and purchasing properties regardless of their condition.

Most recently someone called me in regards to a property he found on the LOL, great lot with septic tank and well on property, nice driveway and electric already there. 

They completely tanked because while liquidity is nice, it also enables panic selling.

Even with $300/m, a hot water tank replacement or furnace repair could wipe out a few years of income.

Any in-ground tanks (active or inactive)2.

The lot gets a holding tank for plumbing, a well and solar power with batteries.