If so, are you concerned about Spain's tax system on worldwide items?

Given the scope of your work, a simple plumbing leak would not concern me, it's a $200 issue at the most and ideally, it's just another line item when you do rough in plumbing for the kitchen.Being in a Milwaukee suburb, I am guessing it's a 1960s ranch, probably with galvanized plumbing.

I’ll also amortize large items like roof over 20 yrs, and then add $100/mo/unit for general repairs.

After adding those four items back in, it brings the complex to making around $6,500.

The inspections have become so nitpicky over purely cosmetic items there has to be an extra $1-2k per year to keep up with the punch list every 1-2 years.

Then we review the submitted file items and come back with questions or ask for additional documents it is a normal process.

You missed an important item: Depending on how a person does #1 or #2, it could get them: A fast-pass to the "Principles Office" for "bullying" and now there sitting in "detention".... 

You've given me some solid pointers/items to take into consideration for future deal analysis, so thank you for that.

Good summary of what your market is looking for but as we all know, each market tends to have its "wish / want" items which differ from market to market.Flow is definitely a selling point but make adjustments come with a cost. 

But, there are certainly several items that would give me pause.