So from a capex perspective, it made sense to completely replace the exterior siding (and make it insurable).

Even though the basic structure was fine .. needed new counters appliances flooring interior exterior paint and other upgrades to get top dollar.

In MA you would now be required to delead the unit and the exterior of the property.

I do the same with major items like windows, exterior maintenance, roof etc. 3.

-Has no crawlspace (common for older properties) so we couldn't see the foundation-Drywood termite/wood decaying fungi damage seen on all the windows/doors/parts of the beam on the exterior, parts of roof decking and rafters in the attic-Old leaks/moisture damage seen in the ceilings and attic-Parts of the roof has patch work-Roof doesn't have any permits on record (don't know how old it is)Seller's offer to me:-Fumigation treatment for drywood termites (tenting the house)-Replace and repair all damage wood throughout the house-Replace the entire roof with a new permit-Replace one window in every room (not all)-Pay for a structural engineer to inspect the foundation-Offer to get quotes for repairs and have a 15-20K budget to make all repairs, house is 500K.

And make sure you get the exterior thoroughly for structural damage. 

It is also a tourist magnet due to its charm and history. 

The numbers in there are for a specific project I did years ago -- for example, where I list $300 for doors, that's probably the replacement of 4 interior doors...or perhaps one exterior door (I don't remember the specific project that I modeled this for).  

Next lease, maybe add a specific clause about taking care of the exterior?

If I could buy and hold a Courtyard District Historical Apartment Building right there on the north side of Fountain right before one spills over down La Cienega into WeHo it would be heaven for me.Also, you can get a lot of location use out of your exteriors because you would have both the "Old Hollywood" and "Hip Youngster Who Found a Cool Historical Place to Live" looks for film and TV.