Thanks @David Krulac and @Steve Babiak Both properties were removed from the list prior to the sale. 

My thing is, even if they don’t know the extent of it they knew that it backed up when toilet paper was flushed so without notifying me of that I was unable to do my due diligence prior to closing.

Had you personally visited these properties prior to making your offers?

Any deprecation expense/recapture for/by the seller prior to the sale is no longer relevant.As far as loin points, not sure these are amortized at all for tax purposes.

Maybe as you said, its an old leak that was already repaired prior to your knowledge. 

I learned a lot of what I know about investing and my local market by working with some really great agents on my personal transactions (prior to getting my license myself obviously). 

In 28 years we had only two court evictions both in the early years (listed rentals in the local newspaper) and prior to using a Realtor.

Most expect rates to come down over the next 24 months, and since a 5/1 ARM is fixed for the first 5 years, you'll have plenty of time to get out of that ARM prior to it adjusting. 

BP cosigns our ability to operate and vets us both on the phone and online prior to featuring us.

I typically walk the properties for them, facetime and help analyze the deals prior to them coming up to view themselves.