We also pay for incidentals (plumbing issues, new appliances, etc).

When in doubt, assume HVAC, gas, elec, plumbing should be done by a licensed pro and budget accordingly.

After my wife researched it for a while we decided not to.The meters were quite expensive, plus all the plumbing had to be redone.

Buyers want to know if the house has new plumbing, electrical, windows, doors, etc.

(a) A landlord shall:(1) comply with the requirements of applicable building and housing codes materially affecting health and safety;(2) make all repairs and do whatever is necessary to put and keep the premises in a habitable condition;(3) keep all common areas of the premises in a clean and safe condition;(4) maintain in good and safe working order and condition all electrical, plumbing, sanitary, heating, ventilating, air-conditioning, and other facilities and appliances, including elevators, supplied or required to be supplied by the landlord;(5) provide and maintain appropriate receptacles and conveniences for the removal of garbage, rubbish, and other waste incidental to the occupancy of the dwelling unit and arrange for their removal; and(6) supply running water and reasonable amounts of hot water at all times and reasonable heat except where the building that includes the dwelling unit is not required by law to be equipped for that purpose, or the dwelling unit is so constructed that heat or hot water is generated by an installation within the exclusive control of the tenant and supplied by a direct public utility connection.

When purchasing, the engineering report and other investigations did not reveal the extent of the poor quality that went into the plumbing, electric and other core areas.

The original purchase investigation did not reveal the extent of the poor electric, plumbing and roof.

Thank you to everyone who contributes.I am a licensed plumbing contractor who performs fix and flip remodels on the side currently.

And you need maintenance reserves of 8% to 10% for general repairs like replacing carpet, broken appliances, plumbing fixes and such because tenants break things and you'll get service calls during the year regardless of how new the property might be.

A hydrostatic plumbing test is recommended to be performed by a licensed plumber post Foundation work.