Are the high historical returns now just pipe dreams?

Pipes are in the ceiling.

Also another property does have asbestos wrapped in the heating pipes which is common in old houses.

I know they've started some pipe replacements already and funding seems to be in place/on the way for more.  

Take out the old pipe and put the new 3" pipe in it's place.

About 3 weeks later, the coupling to the galvanized pipe failed, causing a LOT of water damage. 

With having to continue paying taxes, power (its in the Sierra mountains and power is needed so pipes dont crack) and insurance and now we started with netting almost 135,000.00 to netting 16,000.00 and if this buyer just walks we wont be able to list it again without being upside down. 

@Alex MoazeniWithout knowing the age, type of pipe, length of run, location of leaks within run it’s tough to say.I assume you had it inspected with a camera to show the leaks?

The one thing I see that needs to be added is to have somebody re-connect the water meter; those are usually disconnected from the pipes at both ends.And who know if there is a laundry area that has a clothes washer (not on the list Roy had).Ditto for any pool / hut tub / spa.

NO way no how will you get a legal sewer tap or water tap or power.. this is all a pipe dream I grew up in the bay area . my brother in law is an underground contractor there.. this simply will never fly ever..