If you were doing structural or mechanical work, I would say you should use a licensed professional and pull permits.

It would realistically require new mechanicals and better energy efficiency at the same time to make work as it would not be possible to pass back the cost at the current rate.Also, does your company just do water or all utilities (water/gas/electric)?

The big thing in the fine print seems to distinguish between a mechanical failure of a part as opposed to something wearing out.

What about on other mechanicals like water heaters and boilers?

Also lists the mechanicals on each property and the year they were installed.

I'm a mechanical engineer by trade, but have little to no real estate repair experience. 

If so, it will require all the normal mechanicals (water/sewer, electric) that's probably cost prohibitive, but maybe you get lucky.BTW: Most residential lenders require 6-months seasoning before they will lend based on a new appraisal.Good luck!

Considering it's a 1962 build, if it's not already fully rehabbed with newer roof, windows, electrical, plumbing, mechanical, etc. you might bump up your Capex quite a bit (currently $1854/yr. which will cover something small like a water heater or two but not a roof, windows, parking lot, sewer line, furnace, etc. or even several of these in the same year, perish the thought). 

There are a bunch of very helpful investors.The other good news, the house was rented so mechanicals are likely functioning at least.

Same with the Mechanic's Lien from 2014, and so on.But, in short, send me the paperwork and a $50k cashier's check, and I personally will quitclaim the White House to you.