Anything above that you probably have to compromise too much in terms of the area, or you're able to get a great one-off deal here or there.

Everything else is a little bit of a comfort/safety compromise for better returns. 

I don't want any stake in his business, as it would compromise my interests.  

Now I know you can probably paint over it and it may not look too bad but is it fair to say that the dry wall integrity is a bit compromised and the deposit shouldn't be returned?  

@Philip Marsh with the low occupancy, the current landlords insurance is compromised. 

Happy tree hugger compromise ;)

If your home is worth $2200 as is, rent it for what it is worth and don't compromise.

Unfortunately, because he compromised the electrical by spicing newer wire into the old aluminum wiring and messing with the electrical panel, the entire house had to be rewired and brought up to code.

Buy in good areas, make your apartments clean and relatively updated, price your apartment appropriately, and screen properly and you should always have good paying tenants.Landlords who compromise on these things are the ones who end up with the disaster tenants. 

Having the equipment provided is more of a compromise, however be prepared then to take care of the maintenance of the tractor and snow blower, or replacing them if necessary.