You will need to plan on replacing towels, bed sheets, lots of toilet paper, paper towels, napkins, salt pepper, coffee, tea, sugar, light bulbs, dish soap, dishwasher soap, trash bags, hand cleaner, shampoo, soap, etc. 

You will see some investors who do the pen and napkin style of promissory note, others will point you to all the free forms available online. 

@Carol Hensal if it isn’t life threatening or sanitary, habitability etc...

2) My understanding is that there are also levee, sewer, sanitary, and storm-water fees.

Back of the napkin math tells me that if I could secure a line, we could buy several (3-5) small rental units and not have to average huge nights/year or income/night numbers to cover both the LOC as well as conventional mortgages on the new properties. 

Sure, there are always "cowboys" doing deals by themselves on the back of napkins. 

A structure is unfit for humanoccupancy whenever the code official finds that such structure is unsafe, unlawful or, becauseof the degree to which the structure is in disrepair or lacks maintenance, is unsanitary, vermin orrat infested, contains filth and contamination, or lacks ventilation, illumination, sanitary orheating facilities or other essential equipment required by this code, or because the location ofthe structure constitutes a hazard to the occupants of the structure or to the public.

Sanitary FacilitiesThe bathroom must be located in a private room within the residence.The bathroom must contain a flushing toilet, a shower or tub and a sink.The shower or tub and the sink must have functioning hot and cold water.2.

Back of the napkin, if you are all in at $265K, and your gross income is $48K, figure a 55% expense ratio (conservative after a rehab), you get ($48,000 x .45)/$265K = .082.  

My landlord did not have these terms in the lease contract and now asking me to pay for annual Sanitary Sewer Service Charges $590 and Garbage Fee of $470.