You don't want all of your newly installed materials stolen and stripped.We have used services that provide steel doors and window guards to prevent break ins.  

Bigger companies will have their own transnational agents and attorneys, it is best suited to have your own representation by someone in that particular state.Whenever you are looking to purchase any property as a buy and hold you should always go about the purchase no differently than you would if you were going to live in the property yourself. this is to safe guard yourself against any liabilities or potential pit falls. 

This process is a safe-guard to insure that the deal in question is a win/win.

A seller/buyer might let more of their guard down, because they think that they can trust them, because they have a license and might do things they wouldn't do for a wholesaler. 

Then, when his guard is down, step back in the ring and hit him with a law suit! 

Establish a plan for handling that and you won't be caught off guard.

Michigan Army National Guard.

I'm mainly curious as to what safe-guards are in place to prevent landlords from under-reporting, or tenants from over-reporting, because this seems like it would be an easy spot to rack up itemized deductions (if one were inclined to do so).

This can include stuff such as putting a gate around the complex so only residents can enter, putting in motion-activated lights, security guard, emergency/panic alarms (similar to what you see on university campuses). 

You still have to be guarded its not for the faint hearted. investing period is not for the faint.