But I called the realtor, and was talking to him and he told me that the house has "broken water pipes".

Either the AC isn't working, or the hot water heater quit working, or a pipe burst, and on and on.I've thought about dropping these two properties because the trouble isn't worth the money I make on them.

I've seen more than a few times a 2x10 sistered on to the old 2x6 joists that dropped the ceiling height another 4 inches, and 2x6s  used to raise the floor to be level across while still being able to run piping/hvac below.If you don't have the cash to do it right, I'd say just leave it as is since either way it'll be a fight with the city if they find out.

Does this type of lender exist or is it a pipe dream?

I know to check pipes (on city water so water should be flowing), but any key points I may overlook?

(Never seen a frozen pipe in my life.)2)  Is there a significant drop in the tenant pool during the cooler seasons?  

Make sure to do your due diligence on the water lines and pipes, etc. mobilehomeuniversity is a great resource.

That PVC piping is the drain from the sink which is obviously going to be replaced.

Good morning, The duplex is an estate so no disclosure was required in CT but my inspection found asbestos pipe insulation in the basement.

It is an exhaustive list but there to prevent landlords in the state from being slum lords.