If a house is from 1900, pipes have probably been replaced at least once already, but it's very likely that you'll have old, rotting cast iron drain pipes, corroded copper water lines, and sometimes even gas lines that are done unsafely.

I see it as a speed bump, not a road block. 

This is costly and I may look at other alternatives for bookkeeping but a good cpa handling your taxes vs you/hr block is well worth the money.

Lots of apartments, restaurants going up like crazy, although you go in a few blocks off of Colfax and it's still pretty rough.

Add sub panel if needed (which is probable given the number of home runs needed when remodeling kitchens and baths now)plumbing: cut out and replace any galvanized drain lines that are accessible at any point in the project.

@Ayodeji Kuponiyi thanks for laying out some building blocks to start with.

properly installed septic systems in the US rarely if ever need to be pumped.but if you plug them up with gunk that changes.with newer builds the tank and drain field will be identified if they are old there will be no record

Most have their homes in a vacation rental program for much of the year and block out in advance the weeks when they wish to travel and swap. 

But I am not sure what information I can get from them.It has been suggested that I call the REO department again and ask them about buying the non-preforming note, but I have hit road blocks with that as well.

There are more factors to consider if you have little ones or already own your personal residence, but house hacking a 3- or 4-unit is a complete no-brainer if you're relatively young and unattached and are currently throwing money down the drain for rent.