Now if you have a general person who stops in to do other small tasks or do more property management style tasks (walking through the house to inspect for damages, drop anything off guests may need, change water/HVAC filters etc.)

I cannot overstate the importance of finding a way to build a good rapport with your tenants as early on in the acquisition process as possible, as it will minimize or prevent countless headaches further down the road.When I took over my duplex with an inherited resident in one of the units, I had this conversation with the tenant prior to closing and found out that the toilet in their bathroom was clogging once or twice a week, and their shower head water pressure was super weak. 

Water pressure holds at the meter.

One of the restroom water pipes broke over the weekend and flooded the whole office that would need a major renovation.

Older buildings, lots of water, insurance issues.

I have checked the maps of the department of power and water and the location of the power line is highly inaccurate.

Before you spend any money, you just need to price everything out (i.e. cost of homes, moving costs, installation, hook ups such as electrical, water, etc). 

The apartment is inhabitable, just no water/toilet access.Luckily, the permit was issued by late Monday afternoon. 

Lots of old properties where I'm at, so it isn't unusual to expect $10k+ of capex out of the gate for water heaters, putting in central air possibly, and other old property issues.

Ran into some unexpected issues with having to run new power for the stove as well as having to run new water lines for the bathroom and kitchen.