Well Maintained Roofs: The biggest reason property insurance has increased over the past decade is because of people who let their roofs deteriorate until a hail storm and then have insurance pay for their new roofs. 2. 

You'll also want to ensure you have a good property manager to look after the upkeep of the property if you are not there to notice anything deteriorating or which may need attention.Creating an LLC in California could cost you a minimum tax of $800 every year.

They rust and deteriorate, which can make repairs difficult to impossible.  

They were way under market rents, in varying degrees of deterioration although all had VERY long term tenants...some as long as 20 years.

You'll also want to ensure you have a good property manager to look after the upkeep of the property if you are not there to notice anything deteriorating or which may need attention.Creating an LLC in California would cost you a minimum tax of $800 every year.

You don't change the sentiment of a multi-decade track record of decline and deterioration overnight.

These can let water and rodents intrude if the pointing has deteriorated. 

My thought is that lack of proper and routine asset maintenance tends to cause a lot of premature deterioration on a lot of commercial properties that I see.

If you just let it sit, it will continue to deteriorate and lose value to the point of being bare land.

@Charlie Moore We do a full video walk-thru on every property our clients write an offer on...always starting in the basement or crawl if available...we look atFoundation for signs of deterioration of damage, or signs of water intrusion or settlingHot water tank or boiler...basically just age and general condition hereHVAC/Duct work...age of system and type of duct work...looking for asbestos wrapped joints as well...and possible code issue with gas linesElectric panel- to make sure its updated and there are no obvious issues...Floor joist to make sure none are sagging or crackedExterior we look at all componentsRoof- general age and number of layers if its shingleGutters and downspouts- for damage and drainage...water needs to get away from the house and foundationSoffit/Fascia- for obvious damage or wood rotSiding- general condition and damageWindows and doors- general condition and functionGrading/drainage..porches and sidewalksTree location and possible root damageInteriorGeneral condition of flooring and walls/ceilings for any damage or defectsElectrical fixturesPlumbing- supply and drain lines...as well as condition of fixtures (faucets and shower/bath)Proper ventilation for ranges/stoves/bathrooms with no windowWobbly, leaking or broken toiletsCondition of appliances if availableAtticVentilation through ridge vent or whole house fanRafters/trusses in good shapeRoof decking for signs of damage or water intrusionLevel of insulationHazardous materialsAsbestos Underground storage tanksOh, and make sure the door bell works ;)This is just a first pass before we decide to go for inspection where we'll get more detailed...looking at all this stuff usually takes 15 minutes...pretty easyGlad to chat more...there is a lot not covered here