My validation is simple because my "deal flow" is threading water/learning to swim.

You will need to find a good deal to make sure you are not under water each month on payment versus income.

As a result, any negative grading will let water flow towards the house into the foundation which means degradation of the foundation and water in the basement. 

Here is a list of due diligence item I use on my MHP investments:Check zoning and permitting compliance (city zoning)Check local law compliance (with Sherriff and/or Police)Search City Council minutes for any adverse mentionsCheck with State Department of Public Health's Division of Community Environmental Protection (CEP) for compliance violationsCheck with property neighbors for any disputes or pending legal actions Water - Check with water provider for any open or recent issuesSewer - Check with Sewer provider for any open or recent issues or complaintsElectricity - Check with electricity provider for any open or recent issues Rent roll with space number, name of resident, move-in date, renter or owner occupied, number of occupants, monthly rent, additional charges, current balance due and any relevant notes about the residentList of capital expenditures for the last 3 yearsGet last 2 years of Profit and Loss statementsGet last 2 years of Tax Returns for the LLC/Park12 months of Bank Statements for the LLC/ParkCurrent Accounts receivable statementsBuild proforma for next 5 years using rent roll and expensesGet owed taxes to City/County/Local govGet Insurance Quote of commercial liability insurance2 years of utility billsProperty Tax bills for last 2 years List of park owned home including copies of “rent to own” or sales contractsGet list of vendors and contract status for each vendorTalk with on-site property manager regarding issuesConduct Onsite Property Visit with property managerSpreadsheet detailing who pays all utilities including water, sewer, gas, electric, trash, cable, etc.

What is the average cost of water and home insurance?

If the cost of installing water supply, dryer venting and a drain makes sense, do the upgrade. 

If you don't do this and build a fund for these expenses you are going to end up with a main water line repair that cost thousands and have no way to get the property right without more debt.

Now, I dont try to repair water pipes or electrical but I have learned a heck of a lot and my DIY repair arsenal is ever increasing! 

Not sure where your condo is, but in the slight chance that it is on well water, there shouldn't be any issues with the piping and that may be a case you could make to the buyers

Brand new HVAC and hot water heater, under warranty.