Painting pipes for water supply is only an issue if you have to cut a section and solder a fitting (to put in a shut-off, or to add a utility sink for example), because you have to clean the pipe and then you will have a clean section where the paint isn't present (or doesn't quite match if re-painted).

If there are alot of properties around where i live does that mean its a good time to invest or that the supply is to high and no demand for the properties and i should not bye?

I know your labor and supply costs are both higher but $150/sqft should be very reasonable.

See the WSJ article here http://blogs.wsj.com/developments/2013/01/22/six-reasons-housing-inventory-keeps-declining/Low supply means people cant sell then buy.

Do you think it would be worth it to upgrade the unit to supply airconditioning as well to make my apartments nicer?

But really, I can't figure it out because as you know, supply is so low in OC, I'm hoping to take advantage of that low inventory.

Would you be interested in a monthly supply of pre screened, pre qualified warm prospects who are waiting for me to refer them to an Agent?

I'm definitely not a roof expert, but I'd be surprised if there were any shingles supplied 20 years ago that didn't have at least a 20 year life expectancy (though again, I'm no expert).If the roof is in good shape and an inspector believes there are at least 5 more years of life left on it, I'd leave it.

In my opinion the values of houses is based on what people will pay for them due to supply and demand.

Well, didn't have an official name then but my older brother and I started investing in 1955 just after my 16th birthday and with a 20 hour a week job and school and a full time girlfriend investing time was in short supply but we found some deals that were there and signed them up.