Because a lot of them have polybutylene pipes from the 1990's and I have no idea who's insuring them.I'd be happy if they'd even insure one even if the deductible was higher.

Might be eating vending machine snacks for lunch in the managers office.....might be becoming an expert at where to find and install shark bites yourself when pipes freeze.Take all this as motivation....to do what others can'tGood luck and best wishes.

Today, I'm off to look at a 30 unit property, all boarded up, vacant and probably with all copper pipes removed, that an out of state investor (like you) bought with the idea of retiring from their day job...  

Turns out, the (month to month) tenant was out 5 months ago before a pipe burst and the city turned it off.

The reality is at that depth with a  6 inch pipe you have a lot of water storage.  

Pre-treating for termites, making sure the soil is sloped away from the foundation with downspouts, that pipes are wrapped to keep from freezing etc 5) how involved are you going to be with maintenance ...will you oversee all the details? 

I usually recommend having one water heater for each unit but piping may not allow that or get to costly. 3.

Are they unaware of it, or just not fully informing people because it doesn't "sell the dream" IDK, and honestly I don't care, there just pumping sunshine up tail-pipes. 

About 10 years ago, my home insurer spent over 80k for a water leakage due to a broken pipe behind the refrigerator, more than 50% was on a mold treatment.

I guess if you can sweat pipe or put sheet metal together (perhaps in a baking attic) while making phone calls, texts, forwarding documents and/or emails, etc. then you are good...Now, not every transaction is that way...