Depreciation is a fiction that costs us no money but saves us by delaying/deferring taxes on our actual profit.  

  " 01/08/2020 After additional consideration, based on minimal fenestration and basic finishes; subject and comparable are revised to Q4" So if I upgrade the finishes I can hope for Q3?

My policy has been to either use cheap materials that can easily be replaced between tenants with minimal grumbling, or pay for durable, tenant-resistant materials.

This time of year, the climate can often cause delays in construction which can drag out your time budget and increase your holding costs.You've budgeted for covering all the utility costs. 

I am currently house hacking to cover my living expenses and have minimized my general expenses.

If you dont have an attached garage you also void most of the monoxide poisoning concerns as you boiler emits much more then your water heater(s).There are many things to consider but I certainly understand the need to minimize vacancy first and foremost if you think the high bills will lead to really high turnover rates than maybe the gas boiler does make sense.

Since you bought at the top of the market appreciation will be minimal.

If you do all these things then you shouldnt worry about the what if question you asked because the likelihood of it occurring is minimal.

There can be delays in draws when you're working with a lender. 

At one point I almost walked away from the deal since their delay caused me to miss the deadline for the home buyers tax credit.