Beyond carefully vetting the tenants, how can an investor protect themselves from squatters if we want to sell years down the road?

The previous owner took exceedingly good care of the building and there was nothing that need to be done except to raise the rents.

If I live a busy life and don't have the time or care to invest on my own, but want to put, lets say $200k to work, is a 15% cash flow return reasonable? 

Unfortunately, this is generally catered more towards folks that don't know, don't care or too focused on a few bucks. 

.- Since we're not really in full control of the property, the Hold Harmless also indemnifies us against anything that goes missing at the property and squatters.We get asked/told to do all kinds of crazy stuff by owners, who either don't care what happens to us or haven't really thought everything through.Hope this addresses your question.

The code being cited by the inspector is below if you care to bother.Thank you.https://codes.iccsafe.org/content/IPC2021P3/chapter-7-sanitary-drainage#IPC2021P3_Ch07_Sec708 Could you put cleanouts within the interior (is there a basement?)

Some parts of KC is not great so you do have to be careful.

However, going to the unit, seeing what needs to be taken care of, writing it up, submitting to a manager, going to Home Depot and then doing said work takes time. 

They take decent care of the property, but I would get texts all the time telling me to fix many things (some valid, some completely unnecessary) and would get upset if I ever denied any of the requests.

In Phoenix, where I’m based, or in markets like San Antonio, the best realtors do more than just list properties.. they go “driving for dollars” to find oppurtunity, leverage their local networks (probate attorneys, CPAs, divorce attorneys) and carefully analyze each property’s cash flow.