In older construction the outlet in bathrooms were located in the light fixture.  

I find as  a 30 something year old these cities have many of the things that I am looking for like cool coffee shops, accessible nature, walkability and really cool housing stock.So, my question to fellow BP'ers: What do you think of this thesis?

HVAC is 20 yrs, Water heater 15, kitchen's typically need a complete remodel every 10-15 yrs and cost about $10k, flooring, exterior paint, interior paint, tub surrounds, toilets, vanities, light fixtures, etc etc etc. 

Like @Marcus Auerbach said, do a review on HVAC and roof, gutters, double check plumbing/drainage, and make sure filters, light bulbs, and smoke detector batteries are all in good working order.Do a walk-through of the property as if you were someone looking for a place to rent with a hypercritical eye.

The upgrades (granite countertops, new sink, new paint, light fixtures, faucets) and the remaining down payment funded through my savings.

These people who get in trouble didn't get in trouble for changing a light bulb at their IRA owned house, they were doing blatant violations like paying themselves to manage the IRA owned property or other stupid moves.Just my opinion.

Hopefully the title company will shed some light on it today and I will know what's owed on the mortgage(s).

If the tenant wants to cut a side deal for a better looking faucet or light fixture, it's between the tenant and the technician.The day after a missed payment, notice of the late payment and fee is delivered.Notices and conversations are recorded as text, or at least text and e-mails re-cap what was discussed on the phone or in person.

Passive in nature - strong sponsors in the deal with a real track record.

I would let it happen more naturally.