Pay particular attention to the J along the top of the windows ... if they are done incorrectly, you will send water where you do not want it.As Kyle and others alluded, if you take the precautions flash your openings properly before installing a window or door, you should not see water entering the envelope. 

They will make you take extra precautions when working near the water.It's a ballsy move. 

Would appreciate recommendations from experienced BP members/investors.Will also appreciate any thoughts, suggestions or precautions I should be taking before hiring a property manager. 

I have noticed much of the listings (Public listings only: Redfin, Reator.com, Zillow etc.) are for older properties - any precautions or words of advise on this?

I admit I am probably being too paranoid and will take the obvious precautions with valuables.

The total operating cost for this building is $29500 however I'm budgeting for $40k as a precaution until we have a full year of actual numbers to go on. 

Not getting the fence back up and properly in place says they dont' pay attention to detail and just care about finishing the job without safety precautions.

If you have navigated a similar path, what strategies or precautions would you recommend to mitigate financial risks and ensure a smooth refinancing process?

For a first timer you would be foolish to not take extra precautions.

I don't place more than 3 rentals in an LLC as a precaution against law suits.