All in all, you'll likely get a discount on the property because of the zip code but be prepared for high needy calls and installing some extra safety measures to protect yourself and your guest. 

This include conventional, creative options like this 5% down option, DSCR, non-recourse, commercial, LOCs, HELOCs, installment loans, bridge loans, etc. 

Is it reasonable to ask the tenant to complete the self-install of the new equipment, or should I have someone else do it?

As a Cap Rate is indicative of the risk involved in owning the property, you want to focus on doing things that make your investment less risky if a bank ever had to take over.You can make your investment less risky by doing some of the following things:- Convert all month-to-month tenants to annual leases- Implement strict minimum rental criteria- Add security cameras- Make large capital and preventative improvements (fix drainage issues, install water pressure regulators, replace old HVACs...you get the picture)- Essentially, prove with action that you are caring for the property on a long-term basisThe only way this is effective is if you document everything you are doing as well.

I did have to install a few clean-outs, but its was necessary. 

His company is Bullseye Real Estate We've used him mostly for small scale repairs, i.e. build a bathroom, repair the roofing, patch drywall, paint, kitchen install, masonry repair (front steps) etc.

Anyone install vinyl in upstairs units and/or have any feedback or advice? 

Do not install one. 

In addition, owner loaned us $100,000 at 6% simple interest for one year to make major repairs (installed heat pumps, replaced boiler (for heating water only), replaced some siding and major roof repairs.)We were very clear with each other what we each wanted out of the deal.

I'm also curious how much it costs to prepare the land and install plumbing, electricity, and concrete (driveway, walkways, patios).I'd love all the insights I can get from anyone that has experience doing this.