@Jay Hinrichs that is what I was expecting, finding them down dirty and rehabbing! 

It really blew me away, and seriously cut in to my expected cash flow.

I mean a crushed credit report would suck but it’s not exactly hard dollars.Anyway, expect the owner or their agent to say (with an incredulous tone): Why would I want to do that?!?!?!

Don't ever expect appreciation in these areas. 

You will likely face competition everywhere, the key is having realistic expectation for your returns. 

When you are wanting to buy in this A/B type of area, expect to pay more for the property, expect a higher level and cost of renovation and expect a rental price that is well above median rent. 

Sam, I expect we’ll end up doing what you suggest to avoid further delays resolving this disagreement.

I think one of the things that would hold people back is the all or nothing expectation.  

I understand that ultimately, the responsibility falls with me...but I also wanted to reach out and see if anyone has a perspective or strategic approach to rectifying this manner. 1) Connect pipe (50ft) - not overly concerned with this aspect. 2) Clean up and have restoration company undo the damage - mildly concerned and expect a few thousand dollars fee (who pays?)

Our first mortgage in the late '80s was like 11 3/4%.  6-7% was fairly expected until the great recession.