The mindset to protect the property from water damage is common sense unfortunately some people don't care.

It's pretty common.

If you find a great deal and can still receive decent returns after common charges/maintenance/HOA fees, I don't see why not. 

Things like common issues with the older housing stock in the area, what inspections are absolutely necessary, and experience renting in the area would all be greatly appreciated!

@Angelina Ng It's common for owners to charge the tenants $25 per person per month for water.

For the other unit look and see what is common in your area. 

It seems that DTI is a common obstacle with such loans.  

It is very common to have to only a husband or wife working.

Examples being common things that take place with tenant turnover or larger expenses like a new AC or roof?

@Fabian G.Happens all the time here, your Realtor (if you used one) should have educated you on the pipes.However in this hot market it’s very common for buyers to move forward with the piping as is.I imagine it will be difficult and expensive to hold your inspector accountable so it would probably be best to negotiate with the buyer or find a buyer who doesn’t care.I recently sold a unit to a buyer whom I warned about the potential issues and he simply didn’t care and moved forward with the transaction.