Because this article takes a different approach and median price increased ...

After you will be done with deferral maintenance in a few years you may be able to increase the rent and see a better cash flow. 

Yes, although there seemed to be increased competition the last time we were looking to purchase in Indy from the year prior when we bought our first rental there.

Also, you already increased the fence height  that’s enough accommodation for a tenant who just moved in and hasn’t shown enough worthiness to keep spending more time and money. 3-day fix or quit.

@Shayne Mahoney Hi Shayne, it's gotten increasingly more difficult in recent years but it is still possible.

If it does not have a direct coloration to your bottom line there is no reason to spend money other than necessary maintenance. 

On the downside though, this creates a much trickier lending situation, given the increased vacancies, especially since the property doesn't have that many units to begin with.Given that we haven't yet closed on the property, what's the best way to proceed?

A rise in steel costs could cause a rent hike in apartment and condos to make up for the increase in construction costs.

If I provided solar, I do not believe that I can increase the rent by as much as their expected electrical usage and still be competitive for the top tenants. 

Then value add an ADU (as large as you can build - 1200’ + giant garage (4 car: think repurpose later) for instant increased equity.