Like I said, the frequency of problems is very low (unless the area is low and doesn't drain well).Once my workers are in there doing the rehab, any problems that there might be will show up (if any).  

The bathtub on the main floor had a pipe that drained into the laundry tub in the basement.

I have found that when it comes to money, the friendships/ family ties go down the drain if anything were to come up.

His repairs weren't huge outside of having to remove a toilet installed over a floor drain.

Try to bend and conform to the whims of the small minded, only to be left drained and frustrated.Then I got old and callous and realized that attitude would start bleeding into all aspects of my relationships if I didn't take hold and control of the 3% PITA people that were wrecking my LL experience.I just said this yesterday.

My daughter had made and offer and had it accepted on what will hopefully become her first home.... it is a short sale, and the offer was accepted... all good so far.This property, as many rural propitiates on the lakes in our area, has a 'holding tank only' system - meaning there is NO 'drain field' attached to it so it needs to be pumped each time it fills up... about once per month for most people.

Would I want to replace the valve on the inside with one that can drain even if the faucet I put in is frost free?

Those items will drain your cash flow dry in a hurry.If the seller could show you a gut up reno with everything new that's different but I doubt it at the price you are buying at.

Buy a few RVs for 10K each, let them drain into your sewer and rent them out in addition to the house.

I had to get back in and do some things to satisfy an FHA sale (expand the septic drain field for one thing) that I didn't plan for.