And people are swarming like locusts to bid up the prices of anything that sounds like a wholesale deal.It just feels like behavior and terms that to me signal we are getting close to the top of the market.Nah.....I will pass and work with someone who isnt trying to create some sort of shark feeding frenzy for at best marginal deals.  

I had two water tanks just start leaking once, I didn't notice this straight away because I'm not in the basements but when it was $200 over the usual amount I sent my GC all around the building to detect where the leak was.If there are no comps then they will be looking at the leases and balance sheets to see how the asset has been preforming.

Instead, MLGW came out, alerted code and $6,000 later I have all new gas service lines to my triplex, hot water tanks are in different locations, floor furnaces were reinstalled among a few other things.

To me a only major red flag would be if the property had some sort of environmental issue such as a leaking underground oil tank.

I don't want to be pigeon-holed if one asset class tanks and all my eggs are in that basket.

Okay, throw in the 68 SS Camaro, the leather couches, the lawn tractor, the 200 gallon salt water tank (WITH ALL 14 FISH) and we got a deal!"    

Say a water tank lets go, damages the floors and the units below. there goes your ten grand.

It would need holding tanks, though.

We still have to agree upon a price as well, which will depend upon whether the foundation is repairable, is there a septic tank (we think so but aren't sure), is the well in good condition and what is the retail value of the property.

Unlike a 20 year old furnace that just stops working, a water heater will flood and cause massive damage when if fails because water heater failure is normally due to the tank rusting out.