Its going to depend on what your inspectors want, though.The correct terminology is that a "cable" consists of several "conductors".  

They may rust on the outside but if it isn't leaking then you don't need to dig it out and replace it. 50-60 years isn't that old for cast iron, you can get over 100 years out of them consistently.

You already mentioned cash flow, and the only thing I'd add is that if you buy in a highly desirable area, then your cash flow on day one may be low, but with consistent rent increases over time could end up high ... this is VS buying in the ghetto with high cash flow on day one, but those rents rarely go up to even keep up with inflation so your cash flow diminishes over time.Then there is appreciation.

It's consistently fascinated me as to how difficult it can be for people like me, with a great track record, credit, and net worth (albeit illiquid and tied up in equity), to secure funding.  

A hard money lender is a private lending company that charges points and may get their funds from investors.”Nevertheless, the lending companies which many real estate investors refer to as “hard money lenders” will frequently refer to themselves as a “private lender” or a “private money lender.”Several private lending companies I deal with do not like to be associated with the term “hard money” because they feel it has a bad connotation and makes them seem unethical or having extremely high pricing.But here are some of the benefits of doing business with a private lending company instead of an individual: More Qualified, More Consistent, never runs out of money, Reputation, Legal Compliance, Easy to Find, Better Pricing.There are some benefits to borrowing from an individual investor: May offer higher leverage, may consider a joint venture or equity position, several don’t charge points (origination fees).

The average profit margins for flips - mobile homes in parks - consistently have been 50% to 200%.I took cash for most of them; yes, the buyers can obtain financing.

If it's truly a bad area for your (consistent) criteria then you shouldn't buy there regardless of price point.The advice here has been fairly on point, you shouldn't bid emotionally.

I am planning to sell a contiguous group of commercial properties consisting of retail, office, residential and land in an urban setting.

.- Once you have your criteria and you know what you are looking for, analyze deals every day until you can immediately spot a deal when you see one (and when you do jump on it immediately, there is no time for waiting around on today's market)- Keep taking daily consistent action and always showing up and that will get you to where you eventually want to go. 

Cost of hiring it out: All the above posts seem consistent in the market.