The plumbing in the place if for a medical practice, but I guess the pipes in the middle of the rooms could always be covered up. 

Since I am a plumber, I see many plumbing items today that are not done the same ways as in older homes.

In general, it's also a relatively small "peace of mind" cost for unknown mishaps (HVAC, plumbing, etc).Here's an example from Fidelity that I'm looking to switch to after my currently warranty expires. https://www.homewarranty.com/professional/applicat...I consider the home warranty a fixed capexp cost to me versus an unknown, unpredictable, and variable capexp.  

The answers to your questions regarding right to non renew etc.are found in your state landlord tenant regulations on line.

measured on a horizontal plane. if doing it manually( which it sounds like you want to try and do) you need to step down as you go, so if you measure out 10' horizontal you would bring that down plumb vertical then repeat the process for the 140'. this is the best image i could find right away for you;

I can do plumbing yet I choose to hire a plumber. 

Hi my name is jeremySo recently ive stumbled across bigger pockets and am trying to learn how to get started in the real estate investing world Its always been a passion and dream to do this even as a kid but i didnt think it was possible without large amounts of capital i see now that there are other ways tho i am not fully aware and understanding themSo let me start with an introduction hi im jeremy, im a plumbers apprentice and actively saving , currently i live at home after moving back when the whole rent and live with roommates thing didnt work and i felt like i was not getting anywhere paying rent vs paying payments on a loan , ive got a few thousand right now and am in a odd spot as i dont know if i should stop putting money away for a loan payment and buy a car ( i lost mine due to black ice and insurance didnt cover) i dont necessarily need it to work but i think it will be needed to look at potential properties when im getting ready to pull that triggerAnyways my plan when i first started my job was to just get fully licensed in plumbing and once i have it i would be knowledgeable enough to do most if not all plumbing repairs in any property thinking it would be saving me thousands of dollars when/if i needed to do any type of repair to the unit or its water/heating systems vs paying for it, granted as i get more and more property ill doubt ill still be interested in doing it but i figured its a good stable job to start with and i could always fall back on if needed.

The plumber will change the water heater, but will not investigate the home's plumbing system outside the water heater.

One guideline I use says that if the rent is $1000/mo, then the most I can pay for that rental (including any renovation) is $80,000.One caveat though - if you purchased that $80K property and it had plenty of deferred maintenance (needs a roof, windows don't work properly, old HVAC, galvanized plumbing), then you would need to have these items fixed prior to purchase or factor in this maintenance (pay me now or pay me later...).  

I haven't signed anything yet, I was going over the purchase and sales agreement today and there is a section that is essentially a contingency for condo documents: I have 10 days to review the condo declaration, bylaws, rules and regulations, and insurance policy, and if i don't like anything I can cancel and get my deposit back.