When estimating, would you add any additional safety factor on top of the original rehab budget just to account for any unforeseen? 

This is the same notion that AirBnB have overcome with their rating and review system, which now provides a safety net for people to invite complete strangers into their home in exchange for money!!!

We also have a vision for the common areas / elevator / parking, however I would like to get your opinion on how to prioritize the different Capex/renovations in a MF repositioning plan, what has work well for you in past deals and what hasn't been worth the investment. 

You have to weigh that against the odds of actually getting that return and the safety of your principal. 

Anyway, the only thing that does concern me is the bedrooms that are on the lower level (which is partially underground) do not have windows up to code for Vermont Fire/Safety, they need to be egress windows and they are not (I guess we will find out in the inspection report).

If it is outdoors, and the intent was to shut off gas to the neighbor for some reason (possibly a safety issue such as exhaust from some gas appliance not done properly), then the gas company should be able to put a lock on the neighbor's meter so as to not affect others.Now, if the problem is due to a gas pipe leak somewhere before it reaches the meter, then a shut off at the street is the thing the gas company has to do - but then they should also repair things.

Cash flow is one metric but it is not at the top compared to other ones ( safety of equity for the property even if less return, and being more passive in nature).Everyone has a different situation.  

While you should prioritize networking with investors in your market of interest, it certainly can't hurt to also establish connections with people you can actually meet with in person.

I am looking to establish a relationship with an agent in the area of Safety Harbor Florida.  

I would argue that it jeopardized the health and safety of the other tenants.