Purpose & Use DSCR (Debt Service Coverage Ratio): Used by lenders to assess whether a property generates enough income to cover its debt payments (principal and interest).

I would think and assess if it actually needs a new kitchen (if there are cabinets there already just old, can you paint them and put new knobs on)?

WAY overpriced, over developed, Insurance through the roof, condos are collapsing, in price, owners cant afford the assessments you want more LOL 

Insufficient reserves result in vendor bills piling up, value-add strategies running behind schedule, and returns being reduced, so it's important to have a clear picture about how well capitalized or undercapitalized a deal is so that you can truly assess the risk.

By quickly assessing the market and taking advantage of the property's high demand, Partner Driven added value through a well-timed sale without requiring extensive renovations.

@Peter Aziz So what's your assessment now?

The lender assesses whether the rental income is sufficient to cover the loan payments.

It is part of a larger building and I am not able to assess whether it is in some way a condo, and if so, are they up to date with any fees. 

Inspectors will assess the wiring and electrical panels for outdated components that could pose safety hazards, including fire risks.Plumbing issues like leaks, low water pressure, and drainage problems often arise as well.

I would say look at the big ticket items, roof, foundation, electric, plumbing, HVAC and assess from there if anything needs to be done