@Nathan Clark you have confirmed for me why I hate water so much!

If you are under water on the car, it may be better to work hard to pay it off.

Water, Trash, common electrical? 

Or just stick my head in the sand and be happy with my purchase already  (BTW, my first mortgage is a 1 bedrooom condo in Queens that was under water when I first started my mod. but has since balloned to bing +50,000 in equity with rising home prices.  

When I opened the utility accounts (water and gas) each provider was charging me a per unit charge.

Galvanizing copper is a chemical impossibility.Projected lifespan of galvanized piping is typically projected at 60 years, but it can be less or more depending on the water quality of the source.Copper is generally projected at 80 years but same caveat.Lifespan of plastic is for all practical purposes, infinite. 

So, if there used to be water in the basement, but you had the drain tiles replaced, you do not have to disclosure it.  

(The person that told you 4 is quoting Fannie's rule, maybe they are a Fannie-only lender, or maybe they didn't read the Freddie guideline change that came out like 8 freaking months ago and rely on water cooler talk for their "information"...)- Of your 7 financed properties, are any of them "commercial" and not "residential"?

Water and power were on did not see any plumbing issues, foundation, or roofing( in attic) issues.  

I have already spoken to a few folks on the ground in Austin about doing deals, and have even started more directed conversations with someone who is Austin based and very keen to test the waters of partnering on some deals.