Also, leaks cause damage to the drywall and other items.

Sometimes the HOA can cover capital expenses like roof and exterior, so that can help cash flow as well, but the HOA might increase the dues when they have to pay for capital items.

I'm sure there may be plenty of other metrics we are not taking into account here and if so, please let us know what other critical items we should be looking at!

Make sure the home has quality furniture and items that don’t fall apart in a few years.

Hi Daniel, you can still expense the following items out in 2023: travel, meals (50%), gardening, and tax consultation.

Anything that is already there you can highlight in your listing, but people who need these items generally don't move around a lot after paying to put them in wherever they are living. 

If there are items you need to replace and they are less than $2,500, you can take advantage of the de minimis safe harbor election, which allows you to deduct those costs in the current year rather than capitalizing them.

They will provide you with a list of items, do them.

Aside from the items that you already suggested, the only other thing you can use to verify the stated income is the seller's bank statements (not all sellers will release their bank statements, but some will).The expenses will vary a bit from owner to owner, so you're better off reaching out to a local property management company to get an understanding of how much things cost, unless you plan to self-manage the property. 

The lease already spells out the property owner's responsibilities regarding who is responsible for the repair of certain items like the fridge and AC.