Bare soil at a house with deteriorating paint is an issue. 

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.

Was the mortar deteriorated during his inspection.

I see a lot of condos with old roofs, or deteriorating fences, parking, parking lots, siding, etc.   

In those locations, it just has a stained water ring effect to it - the product does not appear to be deteriorating in those spots though, just stained from the water.  

The flue liner is also completely deteriorated. 

We manage some here in FL - I suppose due to UV we have had some begin to deteriorate and people complain about itch when they do. 

Cracked heat exchangers can be deadly; damaged, deteriorating and clogged condenser fins can reduce efficiency; clogged drain lines/openings can cause mold and mildew to grow and create a health hazard; and plenty of other issues.

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.This article goes into a lot of the considerations about whether to form an LLC or not: https://www.mmpph.com/wp-content/uploads/2019/04/May-2019-newsletter.pdfCreating an LLC in California would cost you a minimum tax of $800 every year.

Deteriorating masonry and loose mortar at front entry wall at stairs.2.