The 'code' we live with (assuming you pull permits) is if you open an external wall during any rehab the insulation has to be updated.

The house requires 22 piers around the edge, and 3 underneath the middle.The cost seems steep, but I'll factor it into my offer.The repair comes with a lifetime guarantee and is transferable.My concern is the warranty only covers external damage (bricks, roof...etc) and does not cover internal issues.Thoughts?

Allocating monthly maintenance costs includes first reviewing monthly expenses outside of the landlord's mortgage, taxes, insurance, external property management fees and utilities.You can use the The 1 Percent RuleOne popular rule of thumb says that one percent of the purchase price of your home should be set aside each year for ongoing maintenance.

I've determined that my gauge for success will need to be external.

That home may be valued at 10 or 15% less due to "external obsolescence" external matters to a subject property that effect its value.

We have seen our water consumption drop by as much as 50 - 60% in some of our properties.In addition we either remove external hose bibs or put them behind a lock plate at our properties ... last thing you want are tenants washing their, and their buddy's, cars every week or the kids playing with the hose.

One thing I appreciate about BP is that it not only contains great content, but points to great external content as well. 

Functional obsolescence sets in, external obsolescence effects most housing over time, (look them up if you're not familiar with these aspects).

Here are a few things I'm taking note of as well as verifying overall condition of the place:Front door, back door, and any side door knobs to be replacedFront/rear/side external light bulbs that need to be replacedWindow blinds/curtains that need to be replaced (privacy and security issue)main water shut off locationI'm going to hit lowes/HD after closing to pickup new locks. 

They are attracted to small town/rural living (and the generally good schools and very low crime rates that come with it) and they (at least one member of the household) works primarily from home.As more and more people work largely on-line (and that really is something close to inevitable; the internal and external costs of the current "commute to an office building" model are hard to justify) then more and more people will be able to live in whatever environment they like.