I put ten year sealed battery smoke alarms (and CO if there is gas) now. 

I usually prefer to invest in insulation and air sealing to justify electric.

- (See Photo 3) - (See Photo 6) - (See Photo 12) - At least 5 panes in windows in the living room and bedrooms have fogging inside the glass from failed thermal seals.

key=OVoxNVhwZnZRRlNyM1JJNFhIRThEWFJsMjI1eHVBI made some notes from the walk through:Curb appeal: House- yard work, shutters, repair driveway cracks, small porch for side entrance, some brick sealing / cleaning up wiring, new gutters, new flashing, 2 window (dual pain) replacement, door refinish, some trim replacement, some roof repair.Garages & Shed - Check code for add on shed (add on is nicer), foundation sunk and cracked in 2 spots, check electrical, new garage doors, new shingles on garage, some roof wood repair, Demo Shed and have firepit/patio on slab.Inside Home:Overall- Electrical (multiple types of outlets, grounded/not grounded), Plumbing (Galvanized rusting in most of house), Possible mold remediation, Roof (Seems ok, maybe new by some windows and seal some areas), How is furnace and where was air conditioning. 

So, how does the newbie multifamily investor not get into a debt hole right from the start with due dillienge inspections before sealing the deal? 

The judge looked at the copies I provided of what was in the sealed envelope that I brought to court.

Aside from ensuring the house is clean, would sealing these areas be a good place to start?

You will want to consult with a plumber as some units are sealed and some require lubrication every so often.

He had to make a hole in the wall to get at the pipe that had broken, and sealed it the best he could.

first of all the big hunkers can vibrate the wall especially when turning off or on.Secondly when they fail and ultimately they will fail, you can't get another unit to fit the hole exactly and need to reduce or expand the hole through the wall.And thirdly they're not usually tightly sealed in the winter.When those type units fail we remove and patch the hole inside and outside.