This would be a good start but is just scratching the surface.

This is just kind of scratching the surface, location, last renovation date, amenities offered, etc. 

Unless there is water damage, they look fine, like others says repaint, hardware, and countertop delaminated/surfaced.

And what I found, just on the surface, is kinda disappointing. 

.$100,000  land cost$   20,000 Fence$  25,000  Automated Gate$  25,000 Rock surface$   7,000 Electric$  7,000 SecurityExpenses:$???????? 

I've also been watching my target market to see that large student housing is coming on the market and more openings for by the room rentals are surfacing.

Are hard surfaced roads needed; Concrete or asphalt- Cost of entrances must be offset by units.

That being said I' think I'm actually of the opposite opinion of Will, on the surface. 

I have a duplex I’ve come across that appears to be a screaming deal on the surface, but there are nuances to it I’ve not dealt with before that give me pause.It’s an FSBO where the owner is an investor looking to “retire” and offload a bunch of properties in my area.

Let's say you already have a couple deals down in your portfolio, but decide later on to switch property managers, what kind of obstacles might this transition bring up?