If your water supply line is galvanized iron I’d also include that in capex.

Over the last several years, The United States printed 1/3 of the money supply.  

I've personally seen concessions up to 8 weeks free plus a 6 hours of free moving as an example for what some apartments are offering as concessions to fill up their communities.As the market continues to evolve and more apartment communities become available I suspect there will be more concessions for renters to take advtange of as supply begins to outpace demand.

Yes, that yellow flex line is the gas supply to the heater.

Because had I focused solely on quality and closed my buy box in a black and white fashion, I would probably still be forced to keep working even after 10 years of investing.

If you choose to do anything regarding this cosmetic work I would suggest as have others hiring a professional and possibly splitting the cost in some fashion with the tenant.

We use a national supply house for everything and do mostly builder grade with upgrades where they need to be at.

Since we do deals all over Florida, we're constantly adjusting based on supply and demand per county, but overall, demand in Florida remains strong.I agree with you.

My largest concern is that as we go lower in rate, housing supply will ultimately be unlocked putting downward pressure on rents/asset prices. 

I know lumber has come down significantly and have been reading due to a slow down in the market there is over supply coming from the lumber mills.