If all the visual pipes are fine and the home was winterized, chances are good the pipes in the wall are fine.

If I subtract the judgement amount from the assessed value I might have something resembling an equity estimate for each property.

It looks like the state website has a calculator that will get me in the ballpark for estimating the new rates. 

If not, then it sounds like your underinsured.To determine how much you should be insured for, ask your insurance agent to run a Replacement Cost estimator. 

For estimating expenses, get expert advise from a mentor.

RestorationsOwner- Jimmy KitayOffice- 914-572- 0304He also “Jimmy” does free estimates and works with you in pricing and works with you on your own estimates.

I don't see any:lawn care or snow removal (which may mean snow removal from the roof as well), Trash Pickup90% of the duplex type properties in Maine would have 1 heating system meaning landlord pays (can be substantial depending on the property), electric could be per occupant but checkI assume you would also pay water sewer --  maybe $60 per monthA building like this is Waterville is probably a old converted single family even if it is all redone I would reconsider your repair and capex estimates I don't know local Waterville but double check the property taxes

I understand that the chances of getting audited are minimal, but I wanted to make sure I can defend/substantiate any deductions just in case!

is it possible they are exaggerating their estimate to make it seem like a better deal to you?

You stand a better chance if you get there first.