I guess I am just one of those basic lender types.put money out get a mortgage or deed of trust prom note.. lenders title policy and named additionally insured on the hazard insurance.I think your talking about an investment scheme.. :) of some sorts.. 

(Toilets are a big one)- Deteriorating paint (lead is extremely common in cities like Rochester)- Breakers, furnace filter(s), water heater(s)- Damaged/broken stepsI think it is a little ridiculous to go around and nitpick with a checklist, but we do check for issues that would cost us money down the road, or are safety issues for our tenants (and properties).

old thread but let me give you my 2 cent if you're still around or for the lucky others who may read this postLet me tell you this loud and clear, If you can, RUN away from the building and safety dpt.

Does anyone see nonapparent hazards, besides having great paperwork for my protection and control? 

I moved out of my parents safety blanket when I was 18 and started my freshman year of college living in an apartment with my best friend from high school.

., no storing hazardous materials, no running a business out of the garage etc.).

Similarly as @Joe Villeneuve has pointed out. 9/10 times you will be fine as long as you have a solid strategy with a margin of safety and manageable leverage.

I am not sure if they can come up with 10% down payment right a way especially they may need reserve money to install fire alarm equipment and fixture in the property for patients safety and code compliance in the next 3 months.

The banks see this as a safety in some way and a track record of reliable income .

In MA, there are 4 types of lead hazards that need to be abated.  1) Loose lead paint.