I used to buy all over but now have a smaller geographic area I deal in and can guess house values as well as anyone at this point in my neck of the woods.

There is very little (knock on wood) that can go wrong with it.

Usual little things like smoke detectors, some non-GFI outlets, a couple outlets wired backwards or not working, some windows that didn't open or wouldn't stay open, some rotten wood and cheap repairs/installs. 

Type of wood and style maybe?

So far, I have not had another problem (knock on wood!)

And the owner attempting to replace the kitchen counter top.We want to stain the wood floors (living and dining room and stairs), add crown molding, replace flooring (kitchen and family room), and redo the master bathroom to start (approx $14K quoted from the contractor).We're now getting cold feet.

Just the heating repair, some minor mold, little bit of rotted exterior wood and some paint.

Again, the spreadsheet with an attempt to identify  individual property variances and figure out what creates them,  Usually that is the degree of finish (new kitchen versus old etc...wood floor versus carpet)3.

@Roy Valadez - Im an investor agent out here in Bakersfield, and I could help you with any questions you have.  

Knock on wood its still a great cash flowing property now that both sides are being rented!