To repair the pipe it is pretty easy - dig, cut out the pipe, and replace it.

No I can't do that.The next day it drops to 25k. 

Also there isn't as much appreciation in the area, it takes longer to evict (MUCH longer), and they have lien-able water and gas - so if someone skips out on the bill, it's on me as the property owner.My point is, high taxes are just one consideration but not an end all be all.

In my lease and my contract with owners, I do 2 interior inspections a year and 2 exterior  or "drive by".

@Mason Field, @Ashish Acharya has it right.

@Mark DrouinAny particular reason you don't want to do a refi after the new tenant is placed ?   

Do you live in the Philly area? 

Were you able to do it in 10 years or less with rental properties?

We're still a ways off doing any transactions, and when we do I can probably figure out the basic financials on my own.

We love the property and are willing to make some near/mid term sacrifices to see it reach it's potential.