As long as you know this going in and are good with it, more power to you. 

The power is off and the HVAC looks to be between 6-12 years old.

I have seen countless videos on YouTube about the power of real estate investing and am looking to try my hand at it.

Here are the knowns:Rent per tenant: $750 (this is below market value due to deferred maintenance, I believe $1,000-1,200 is more realistic)Property taxes: $900 per yearLandlord insurance: $1,000 per yearLandlord pays water/trash: claims to be $125 per month (will ask for proof)Landlord is in charge of snow removal and mowing lawnThere are 5 electric meters, each tenant pays their own (landlord covers hallway and outdoor lights)What I plan to ask for is the copies of the leases, copies of the utility bills, and copies of bank statements showing the tenants are actually paying on time.

Structural & functional items usually need permitting (framing, roof, electrical, plumbing, etc), whereas flooring and landscaping do not. 

If 7% limit doesn't achieve what the powers-that-be desire, how much lower will they go?

Good idea to be proactive as well...install pipe insulation, seal cracks, install electrical heat tape to pipes, etc. 

That way you can earn income, keep fees low, and get the power of a big brokerage.   

Put in offers that make senseFinancing:Michelle- $65,000 cashMark- $65,000 cashTeams & Systems:Mark & Michelle- kickass power couple.Need to call turnkey providers and investment realtorsNeed to set up LLC in state of propertyNeed to set up business bank accountNeed to find MentorNeed AttorneyNeed AccountantExit strategies & Back up plans:Hold and Rent as long as possible

you can dispute with credit card company.. for instance my amex has powerful protection plan so if anything was wrong they will reimburse me immediately, otherwise just fix it yourself and never pay until fully inspected and satisfied