Basically an informal audit of ones portfolio.This could be as simple as creating a few benchmarks (specific ratio of expenses, total PM fee ratios, vacancy rates and duration,etc)As much as one could assume they have a well oiled portfolio, an outside investor could find areas of improvement.

Otherwise, anything with a wet cloth pad will get dirt and oil stuck in the pad, which then gets spread throughout your floors as you mop.

The land, zoning, waste disposal system, in ground oil tank, elevations, liabilities, encumbrances, lot size, setbacks, and other issues that may have impact on an investment decision and any value add opportunities or lack of. 

I will recover this cost of new heating equipment in 2 years through the savings of what I paid this year for heating oil.

@Austin JamesUnderstand the area, the current tenant base,the median income, is it in a flood zone, the age of the asset, the condition of the plumbing, the electrical wiring, the fuseboxes, the age of the roofs, the age of the mechanicals, the condition of the foundation, the drainage of the property, does the property have a C of O, is there ny environmental concerns such as oil tanks being buried, the current property management company, what are the amenities.These are just a few things to look out for.

So I am just curious if anyone is in any of his deals and has he had deals that are asking for Cash calls or being sold and wiping out investors  or leaking oil ??? 

I went after ags/minerals/oil/timber(even before covid) first then focused on SFH once I saw syndications suck in mid 2022. 

Oil and gas royalties - a little know acceptable 1031 replacement opportunity. 

Some common disputes I see are concerning the landlord failing to do his or her duties under the lease (e.g. make repairs); slip and falls by a tenant or a guest of the tenant; injuries caused by landlord's failure to properly exercise his or her duties; environmental issues at the property (typically commercial, e.g. alleged that an underground oil tank started leaking causing damage to business); disputes over the security deposit; illegal clauses in a lease; failure to reimburse the tenant for a repair he or she made; Entering a tenant's property illegally; failing to disclose environmental issues such as lead paint; or trying to evict the tenant illegally.

I believe Dauphin Island also suffers from the eyesore of all the offshore oil rigs that are visible.