In spite of all that work we discovered that the hot water heater didn't work (they didn't bother to replace a $300 water heater that their initial 4 point inspection stated was original to the house (1983).  

For water we always keep that in the owner's name (since, in our area at least, water bills run with the house and not the customer).

A riverfront project is underway to develop the city along the water.

Add water meters to separate the exterior usage to the building usage (sometimes the water companies will provide a break for that portion).There are a lot of things to consider and utilities are a big part of operational costs associated with apartment ownership and management.Best wishes to you.

Tenants never water like you would and they often don't report issues like you would see. 

However, we faced a few unexpected challenges:A hailstorm damaged the roof while the property was under contract.The main water line to the property failed.

Drinking plenty of water and bringing along nuts/trail mix or a piece of fruit while out on the road has definitely been a plus in my experience.

For example, making an owner aware that they will likely need to replace the hot water tank or the roof within the next 12 months if they're in visibly bad shape.

Plus you need to add troughs for water.

Mortgage 15/1 arm at $3.375% with max 4% interest increase due 15 years from July 2015 (Aug 1, 2030).Current condo monthly maintenance fee : $1036 includes water, amenities (pool, tennis court, concierge, gym, sauna, community room with pool and ping pong, maintenance)Current monthly mortgage payment: $499 interest, $504 principal Monthly taxes and insurance: $459 monthly contents insurance: $38Past Assessments: $11k for building HVAC upgrades $8k for building updates and building reservescurrent market value $400k - $425kcurrent  monthly rental median: $3100-$3200monthly landlord insurance: $45I'm also trying to decide if I should rent or sell and invest elsewhere.Appreciate all insights.