I followed that article to bigger pockets and the Pod casts. 

Cast iron lines especially are notorious for this. 

You aren't buying a home for yourself, so if you cast a broad enough net you can find seller's in difficult situations and negotiate a better deal.

Cast Iron drain and waste lines typically have a 50 - 60 year life.

Very true, you make your money when you buy and that formula is dependent upon your search abilities, how big of a net you cast to find opportunities, your negotiating skills, your ability to identify great locations (often near good schools), and your ability to transform the property.

Also, the home has some cast-iron piping that is mixed in with newer PVC piping.

I think they should separate the PM business from the brokerage business as I know of a couple agents on their team who are good and the sales team is likely are missing out on sales opportunities because of the awful service from the PM side casts a bad light on the entire company. 

As a developer, you want to cast the widest net possible.

@Scott Trench I will say that on the pod casts, over the last year, I have seen a shift to a more conservative approach to investing from the refi to the max all the time and keep buying.

This step involves casting a wide net to gather a diverse pool of potential sponsors.