They are very mom/pop style and couldnt really give any specifics on other expenses besides electric 30, taxes 270, water 250, so i estimated vacancy, repairs, cap ex, management, insurance, etc.

Meaning, have all your Ducks lined up, (Loan Pre-Approval, etc) so you can make an Offer quickly, but also know if your looking in the right area & right price range - the market will deliver - eventually! 

In an apartment building, the landlord is responsible for the HVAC unit(s), roof, water heaters, toilets, exterior of the building, windows, common areas, landscaping, etc.

Extensive work needed on a water damaged house.

After many conversations and much thought, they agreed to 'test' the waters and turn their home into a rental property.We have since transferred the property into an LLC (Assets protection), cash-out refi  and rehabbed the property.

Additionally, they have restarted the public water/sewer expansion project and will have most of the city on pubic utility within the next 10 years.

If you're ready now I'm currently selling a very large 2 family(12 bedrooms total 5 and 7 per unit) thats in good shape and is getting over $3,000 a month in rents currently right in your expected price range.

I would not use it as a reason to check the whole house, but you can probably see everything you need to see with a brief scan of the place while getting the dogs leash or making sure it has water.

I keep saying this, mold takes water has the leak from the plumbing, roof fill in the blank been stopped?

That's why it was a problem so often in foreclosed houses where the water wasn't turned off but the electricity was.