The natural gas water heater was venting into what appears to be the old furnace chimney flue. The furnace was replaced with a high efficiency furnace, but the water heater was left venting in the flue going to the old chimney. Unfortunately, the flippers removed the chimney and capped off the thimble, not realizing the natural gas water heater was still connected to it.
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It’s just a really tight rain cap, lol.
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Madness! Hope you notified the listing agent/seller.
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Yikes! Good catch.
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Good catch, FLIPPERS they just need to go away.