I visit the property everyday to make sure there aren't any hiccups and that the work is being executed to my standards.The HW floors are red oak stained with a dark walnut stain.

A lot of people on here are very helpful and don't just blow smoke so I am very appreciative of any input.

This will ensure that you go in with a plan and an understanding of your budget, rather than a shot in the dark mentality.Hope that helps!

in addition to my rental contract, can I include an addendum that lists a whole bunch of items such as the following:-by signing this lease, you acknowledge that carbon monoxide and smoke alarms are installed in your unit. -$100 will be charged/deducted from your security deposit if damaged or removed-cars must be registered and in operable condition. cars may not be used for storage. management reserves the right to tow any cars not in compliance-management will pay for drain clearance once per year. tenants are responsible for any other clogs. management reserves the right to deduct this from the security deposit-if the unit is part of HUD(section 8) and the unit fails inspection for sanitary reasons, management reserves the right to hire a professional cleaner and deduct $200 from the security deposit.

They are functional but I think the unit looks dark with them- and I think they are super ugly.

Many people in poor neighborhoods are drinking, smoking and make other poor dietary choices.

With regards to electric: 20 amp GFCI protected outlets at kitchen & bath counter levels, hard wired smoke/carbon detectors 15' from all bedrooms and 1 on each level, grounded outlets (if the outlet plug has 3 holes typically your all good if not you will be pulling new wire), from your general comments on overall condition you will likely be looking at a new service & panel as well.

I just can't have illegal activity in my properties.Often cash is a smoke screen for deeper problems or could even signal illegal activities, but not in all cases. 

One last point, if you are actively involved with your own property management, then I would also put a clause in your lease stating that you have monthly inspections every 3 months to check smoke detectors and change the filters in the house.

Appreciation is no more than smoke and mirrors.