I plan to submeter the water and transfer that expense over to the tenants.

You don’t want to close on the house and then go and find out a tree fell through the roof last week or a water pipe burst.

There’s no secret system.

Initial numbers work out pretty well but I'm still learning how to calculate the different metrics and which I need to pay attention to for my system, which is still a work in progress.

She actually complained in one sentence about the water damaged walls and her son's asthma.

I am familiar of the process for changing occupancy and the potential need for a special permit from planning, and the possibility of triggering the need for a fire sprinkler and fire alarm system.

There was a final walk through of the property, but, as I didn't know about the pipe burst, I didn't know to look for water damage (even after I was made aware of this problem, with an untrained eye, it's hard to notice issues besides some sagging drywall and water drips on parts of the wall) and some part of the wood floor coming up outside of the bathroom door.

Look for all the things that you've mentioned but as Mindy said updated means different things to different people, make sure your plumbing is copper and that your electrical system is grounded and doesn't just have a spot for grounding pins in the plugs.

If they have a larger boat they need a place to put the boat in and out of the water. 

All the window coverings are in, the yard is sodded & possibly landscaped, there is probably a sprinkler system & fence – all thing you may have to pay for separately with a new home.