With fresh paint throughout inside and out, brand-new roof, dual HVAC systems, updated water heater, stainless steel appliances, lighting fixtures, outlets, countertops, and PEX plumbing just to name a few.

I am just looking at numbers provided by Zillow.I agree that the cost for most items such as a Roof, HVAC, Piping will be similar between a cheap home and an expensive home.

Look for homes with updated systems—new plumbing, HVAC, roofing, and windows are essential for long-term value and tenant satisfaction.

Quote from @Ariel Nixon:  Yes it is always too good to be true when Cash Flow is through the roof. 

Solar Roof Lease: Entered into 20-yr agreement at $10K/month to lease roof What was the outcome?

This is especially true the more people you try to cram under one roof. 

Solar Roof Lease: Entered into 20-yr agreement at $10K/month to lease roof What was the outcome?

He said the borrower called and a tree fell on the roof and needed to file an insurance claim so wanted to file it against our insurance.2.

Its extremely important when running tighter margins like what you're talking about to focus on age of HVAC, water heater, appliances, roof, etc.

Because the cost of roofs, ac units, water heaters and so on don’t care if you collect $600/mo in rent or $3,000/mo.