Many people maintain property they own differently from property they rent.  

In a cooling climate your state's laws probably state the calendar date upon which heat needs to be provided (for example beginning October 15th) and the temperatures that the unit is required to maintain (for example 65 degrees). 2.

Don't forget to factor for this - upon moveout, we reasonably expect to cashflow around $500/mo, which will allow us to maintain and hold for as long as possible to collect appreciation and yes some extra money toward the next investment. 

Be interested in what your thoughts are to include this in a lease (needs to be maintained to some defined degree of cleanliness rather than waiting until move-out and deduct cleaning charges from their deposit).

I am not a CPA, but do maintain books for various real estate-types.

A tenant who fails to maintain a rental property could end up costing you more in property damage and court fees than the amount of rent they're paying you upfront. 

Do you maintain the correct types of insurance and adequate amounts of  insurance? 

This includes the seller maintaining property insurance in their name with the buyer added as additional interest and mortgage payments being made from an account in which the seller appears as bank account holder. 

@Adolphus Fletcher For multifamily investing, most real estate investors typically use an LLC for several reasons:Liability Protection: LLCs protect your personal assets from lawsuits or debts associated with the property.Pass-Through Taxation: Income and losses from an LLC pass through to your personal tax return, avoiding double taxation seen in C-Corps.Flexibility: LLCs allow for flexible management structures and are easier to maintain than corporations.Anonymity: In some states, LLCs can offer a degree of anonymity if you use a registered agent and form the LLC in a state that doesn’t require public disclosure of members, such as Delaware or Wyoming.S-Corps are should be avoided for real estate investing because of various reasons.

My list includes - last 2 years employment history and current employment [2 paystubs], criminal checks, eviction checks, No Pets, No smoking, tenant pays utilities, maintains landscape, no subleasing, bring own washer & dryer, 1 month security deposit and transfer of utilities before moving in, rental insurance, all occupants will be on lease, notice period of 2 months for termination, tenant references, No cosigners, no painting walls, late fee notice, any hoa fines should be paid by tenant, inspection of property at 3, 9 and 12 months.Please let me know if I am missing anything.3.