The objective is to take over in the owner's place so things like this don't happen again and earn a return on my investment for satisfying these debts and managing the property. 

The lender supposedly also may have some objection to this because she cannot guarantee a 35 day closing for a property that does not have water especially if appraiser may require it as a condition for closing.

My objection to the repair threshold is that tenants may not bother repairing or letting the owner know about anything small, since they don't want to fix it either, and that could end up creating a larger problem.

Start by defining your objective and criteria and then identify the markets that will best help you achieve those objectives.

Re-visit your goals and objectives.

Those rights would typically be defined in a lease agreement - which you need to see to determine if you have any objections to proposed title you will be acquiring at closing.

Looks like you did your research and you overcame your hardest objection - analysis by paralysis.

I constantly have to control myself from ‘Shiny Object Syndrome’.

There are a lot of parameters, but either the property fits your objectives or it doesn't.

This way your end buyer investor will see exactly what you're pulling for comps, can go over them and show you what their objections are.