You are not living in the property, it's purely an investment. 

Or as if sinkholes are a purely Florida problem.

@Eric Armstrong Well then,that would purely be up to your private/ hard money lender.  

People just need to do your due diligence and decide what works and what they want to (or can afford to) spend their money on..... having a place in Vegas and investing in over 20 states  NV to me of all the states with no income tax is one of the best to own real estate in from a purely financial aspect. the property tax's are some of the lowest in the country.. and at least in vegas so much of the housing stock is newer not 1900 homes you find in the mid west.. 

I would look at it purely from cashflow *after* you move out.

Include in lease that you do these things-- and be sure to follow through if you include them in lease, so you don't get some tenant's house on fire and trying to sue you for not replacing smoke detector batteries.

If its purely to maximize risk-adjusted returns, then there's certainly an opportunity for that but IMO, I wouldn't go it alone.  

We have moved to 10 year battery models, so tenants can't forget to change the batteries.

That's pure motivation, thank you.

A building with a couple of apartments and a nice commercial storefront is often a bit cheaper since the pure residential and pure commercial guys are both not going to touch it and it's too small for the institutional investors to pursue it.