Always looking on the bright side.

Hot water system.Low volatage, coax cable and phone lines Connections.

Cash-on-cash is your only metric here that may matter, and it's simply for comparing properties side-by-side and asking what the best use of your limited dollars is...Anyway,Your closing costs will be closer to 2% of the purchase price: $5,800 (unless the seller is covering this...if so, good job)Repair cost of $1,000 won't do anything...contractor fees will eat 50% of that...if you are renovating, you need to renovate to drive rents...$4k per unit will maybe do paint and carpet...a few fixtures. 

The fact they are complaining online might be an indication the property manager dealt with them properly so be sure to ask the manager for their side of the story.I hope this basic guide helps.

Our exit strategies are to sell it (super hot market here), or live in it (as it’s a place we would want to live anyway).

I am interested in real estate wholesaling as a side hustle.

On a side note, I agree with you...

Unless released by either party that money sits, no matter how right or wrong either side is!

BostonSeattleDenverAustinNew York-BrooklynNashvilleAll seem to be the really hot markets.

I've done lots of purchasing and not so much on the sales side.