The units I used were designed to install under a standard kitchen counter (24in deep), so the back of the unit was not just a flush panel, there was recesses to account for hoses & drains on the washer, and space to route the dryer vent.My units were not much more than I would have spent for comparable set of units, but I did have to order them.

This is predominately aimed at our student tenants who go home to their families between autumn and winter terms (right now) and might think turning off the heat to be a good way to save money.In your case, if you are on the top floor, you would have to be keeping the unit quite cold - i.e. not causing the hydronic system to circulate -  for water in a ceiling panel/line to freeze.  

@Tomer Ravid the previous landlord was charging $525/month in an area where market rent 5 years ago was $850/mnth for a similar apartment (2 bed 1 bath).What I did was put in over 100 hours of landscaping work, upgraded the appliances, upgraded the kitchens and baths (all as cheaply as possible, for example, I painted pink tile white, used thermoplastic panels and liquid nailed them over the old tile backsplash, laid down new vinyl floors over the old nasty vinyl, etc) and was able to take very nice pictures and market the property very well.I also allow dogs, so that is a huge competitive advantage in the area.

My most expensive rehab to date was $60K on a $350K house that I took down to the 2x4s on the inside, rearranged the entire floor plan, rewired with permits and added upgraded panel, new windows, re-plumbed, sheet rocked, and replastered the pool as well as added all new pool equipment and blew out the inside with the latest finishes.I just put a house back together that probably should have been scraped off the lot and it only cost $35K.

There is dry rotting around most of the house in the lower panels.

A typical project would include a lot of new flooring, new sheetrock (many of the houses have only paneling that I replace), new kitchen cabinets and new bath vanities anyway so the way I look at it is the renovation cost would be similar (maybe slightly higher) and the demolition has already been done for me (Ill save $1200 in demo costs).Am I missing something here?

Anything that constitutes a major inconvenience to the tenant, such that a reasonable court would find one negligent for not addressing quickly, constitutes an urgent maintenance need.Example of the former: leaking water, gas, exposed live electrical wires, smoking in electrical panel, dangerous leaning tree, etc.Example of the latter: poor heat performance of heating system; clogged gutters overflowing causing basement dampness; etc. 

Appears to be all new electric, at least the panel is.The home has been lived in as the 'brand new' carpet shows some wear and stains.  

Breece Veneer & Panel Co., 232 F .2d 319.

When we purchased the house, the basement was partially finished with a drop ceiling and wood paneling.