Lastly is structures, and to be honest I think we'd probably have to move the needle $100k or so on that item because I have a feeling from what I've seen thus far is these structures are not of the most durable enduring type and I will have some considerable cap-x over 10yr window on them.

Now for the house you are leaving behind…I like to have this one freshly painted, and take action on any maintenance items.  

@Francisco PineiroYou could call a few home inspectors in the market you are investing in and see if they do draw inspections so you know the items are correctly done before sending funds

We removed a chimney to open up the space and updated all the major ticket items—new electrical, HVAC, and roof.

It's no different than those who hold stocks, then need to liquidate to purchase items.

Clean it up a bit to get most bang for the buck add ons and preventative damage items like water leaks.

Lots of posts here on BP on all the questions to ask as there are 100+ items to consider

My wife and I used to do flips in this area, and I have a couple listings along with long term rentals I manage in the area..For the co-host, they typically do not handle permitting and other items like that (this can be agreed upon between you and the co-host.

If we need customized items, like a Leasehold DOT on an airplane hangar portfolio, then we (borrower) pay extra. 

Brick v.s siding and covered v.s no converted parking also make a large difference and are items that have to be adjusted for.