Things like cracked window, not strapped water heater, missing smoke/fire alarms that the lender wanted rectified. 

If you get a 10 year signed then sell in 3 years you still have 7 years remaining on the lease and then the buyer sees they can likely get great financing and have say a 10% rent bump in 2 years.I have seen some buyer purchase at low cap rates regardless of years left but location had to be an A+ with and A+ tenant to feel strongly if the tenant went dark they had high dirt value to re-tenant and upside.          

I have sort of the opposite problem, my tenants in the unit with the thermostat for the whole building boiler would open their windows in the living room when they smoked weed.

Chasing cashflow alone can lead you down some dark alleys, literally. 

. $3m project for 2 years just a random shot in the dark a couple of thousands while you're getting your entitlements and $10k for builders risk while it's under construction.Speak w/ your lenders before you pull any triggers... it's not just a remodel.

Showing before even knowing how many animals they have and how much they smoke will never be solved by software. 

(The good old days when you could make a lower offer on an already smoking deal) How did you finance this deal?

Upgrade lighting if there's any dimly lit areas, install ceiling fans in all bedrooms, replace toilet if its old, new locks on all exterior doors keyed alike, new numbers on mailbox if the other ones are ratty, make sure everything works, no faucets drip, smoke alarms all working and in all the places they're supposed to be.

some things a seller may be required to fix by law (smoke alarms, septic), your RE agent can tell you that.

This leaves him approximately $200 extra each month he can pocket.Now, I'm not sure that is how to calculate vacancy rates, cap expenses, or repairs/maintenatnce, so please let me know if my understanding of the concept is off.I tried fiddling with the Buy and Hold calculator with these numbers and recognize his situation is not a smoking deal.