That experience gave me a solid foundation in property management and repairs.

Amortize your major repairs (roof, hvac, built in appliances) and add an estimate for small maintenance.This feels not terrible to me.

@Sophanara Khoeun For significant repairs like foundational issues, plumbing, and electrical updates, hire specialists (e.g., structural engineers, plumbers) for precision, or a general contractor for coordination if the scope is broad.

Send her a certified letter (keep a copy for yourself) with your concerns of her not turning on the heat and the problems that can occur with frozen pipes and repair cost in which she will be liable for if she doesn't comply.Is she using space heaters instead?

I'm at least moderately skilled in repairing them.   

Additionally, have a clear budget, factoring in potential repair costs, and ensure you understand the rules about earnest money deposits and closing deadlines.LLC for Real Estate Investing: Forming an LLC for rental properties can offer liability protection and may provide tax advantages, though the tax benefits are non-existence for rentals.

I would definitely factor in some substantial capex/ maintenance and repair costs which could lower your returns.  

I am hopeful they will want to work with me to get things repaired and updated to validate appropriate rent increases.

Mortgage rates at 7% 2. 25% down3. 10% of current rents budgeted for capex, monthly repairs and maintenance and property management fees. 

As an example I was looking at a multi unit, smaller building and within 90 seconds of viewing the proforma I saw the maintenance/repair figures were "low".