A large ticket item could eat up the cash flow for years out.  

Install cameras and exterior lighting on timers, place no trespassing signs, and place items that indicate occupancy - like a BIG dog bowl near the front door, shoes, etc. 

For example if you were to exit a new build in 5 years there may be no cap ex cost (i can think of few cap ex items that does not last 5 years - maybe carpet in class c and lower), just maintenance costs which would be fairly small.Best wishes

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. 

Items such as this that could be easily replaced by almost any LL at a very minimal cost, will turn into a $135 aggravation at best if you overlook it!

I use this type of system in a ten unit that I own because the cost to submeter each one was cost prohibitive I usually don’t include other items like wifi/internet unless it’s a furnished/short term rental. 

In general, I would say Kitchen, Bathrooms and any deferred maintenance should be your focused items. 

I removed the chimney and added modern HVAC, making it the only house on the block with it, significantly enhancing its value.

I removed the chimney and added modern HVAC, making it the only house on the block with it, significantly enhancing its value.

Would you have any recommendations, in your experience, for what to look out for in the documents that would be red flags or items that would negotiable?