I think its unreasonable to forecast zero vacancy for any property since we know its a matter of when not if there will be a vacancy. even maintenance as another example, do we know what will break, no, but we know something will break or need to be replaced/updated. so we should put something in to account for it.

He could also attempt to recover costs spent (like a hotel etc) due to no heat because of lack of action by the landlord (again since it's unreasonable to assume gas can be turned on same day).But really, once he doesn't leave the argument of habitability goes in favor of the landlord.

Here's my guess (if you're buying outside of where you live): They get contacted through these automated one-click methods by tons of "investors" that have unreasonable expectations, no money, etc. and just want an agent to wing out low-ball offers. 

Hot water is not something that is an unreasonable demand, and with adding two more people, it sounds like you'd be putting a big load on that water heater.

However our end buyer wanted the soil tested anyway which we obliged (although we thought he was being a little unreasonable).

It wouldn't be unreasonable to ask for 15k down payment and to carry a dollar for dollar wrap.

Once again the BIG CAVEAT that I do not know your area.When you lump maintenance and Paint & Decorating together the total is about 10% of scheduled rent, which is not unreasonable for maintenance.The Admin management fee is ~6% of scheduled rent, which again is not unreasonable if a PM were managing a building of that size.The Water/Sewer numbers seem a little high, but your utility costs could well be greater than ours ... and/or you have really old 3 & 5 gallon toilets and 2.5 - 5 usg shower heads.The gas bill makes me wonder: - just how much insulation there is in the building envelope;- whether the zone controls are effective (or are folks too hot and opening windows);- whether the boiler fires to make all DHW I'm not sure why there is an on-site management fee of $12K unless this is inclusive of "rent in-kind" to the Superintendent.I will assume the Services number includes yard work, snow removal,  janitorial, pest control.The Supplies amount of 14K is high when you consider maintenance and Paint & Decorating are already accounted.  

If it is a double pane, gas charged window that is not an unreasonable amount for repair, though it is usually significantly cheaper to order a replacement window and put it in yourself.

Will the turnover make the financials unreasonable?

Scott (34 Cal. 2d 116, 208 P. 2d 367), that California Civil Code Section 3275 was a sufficient barrier to harsh and unreasonable foreclosure proceedings.