It will require you to stay on top of this to challenge their refund request - else, the "system" will aloow it to happen.

For the kitchen and bathrooms, would I need to do EVP for potential water issues? 

Is there a chance the water was on and all the pipes froze and then flooded the place?

But assuming I feel extremely confident in the proforma numbers, does the structure seem fair for the risk and requirements from each party?

If you ask the manager to justify a fee and he starts hemming and hawing, move on or require them to remove the fee.

But now it seems taxes have increased, additional government fees, ie lead testing for any property built prior to 2017, and also increases in sewer / water rates.

Q1) Is there a minimum interest rate requirement?

They still are required to deposit one month's rent to the court within 5 days and continue to pay rent to the court monthly. 

They are also up to building code and won't require major maintenance for a while**Cons:**1.

If the market you think you want to start investing in requires 2 or 3 fights and takes you all day to get to, you might not find the time or have the energy to get in that market often enough to really get to learn it.