The PM found a water leak in the kitchen area (upstairs) and water stain on the outside of downstairs bedroom.

.- You mentioned water in the panel board and wet/corroded breakers.

Or a water line could freeze and burst in 2 months and create a 3-4k repair shortly after buying.

when assigning an inspector make sure they test the water.

Unfortunately, we have just learned about a water damage caused by the people living upstairs.

@Arwin Nassiri Be sure to do your due diligence when considering raw land, and consider particularly the cost of getting water and other utilities to the location and whether you can actually build on the land at all - any structures or improvements within 25ft of a Joshua Tree will be difficult, expensive, and likely impossible in most areas - and you generally can't move them either. 

But, if I was brand-new with no lease or idea what to do and/or no time, they are decent enough to keep me out of hot water.   

I tried to fix my water heater once…the situation got ugly…

I checked our installation price list and the pre-plumbed option is $4000 for grey and black water plumbing in addition to hot/cold plumbing with a hot water heater.

Once you automate you can include smart lock operation, hot water on/off, etc.