Hi Bigger Pockets community,First a little bit about myself, my name is Jubal Noel, I’ve recently graduated college with an electrical engineering degree.

@Bryson WilliamsTypically you would have your tenants pay their own utilities since you wouldn't want to cover someone's high water or electricity/gas bills but some cities will put a lien on your property if certain utilities aren't paid.

Roofs, Plumbing, Electrical,  HVAC/Furnace. 

Replace the roof and get decent coverage assuming other area have been updated (electric, plumbing etc.)

I used to work for a utility in operations, power generation, energy trading and in Strategic planning, and know just enough about the electrical grid to be dangerous.Renewables are a significantly larger impact than when I was working in the business. 

I can't speak for contractors, but as a DIYer, I know even the most basic kitchen renovation may end up costing me 10k if I were to do it myself. 2-3k for cabinets. 1k for plumbing and fixtures1k for electrical and fixtures2-3k for granite countertops1k for tiling/flooring1k for miscellaneous like painting, etc. 

New sewer, electrical, electrical panel, mini split, tankless water heater, plumbing, flooring, kitchen, bathrooms, turf, driveway, hardscape, etc.

-Add value: Look for properties that have the potential for value-add improvements, such as cosmetic upgrades, energy-efficient upgrades, or additional amenities.

Since it is going to be a rental, first concentrate on any items that need maintenance immediately that prevent it from being rented now (creating cash flow)(including all parts to be working, such as HVAC, plumbing, electrical, etc.). 

I cannot tell you after buying a property how many things come out of the woodwork like roof repairs, electrical repairs, new hot water heater etc.