Speaking with other investors, the primary reason is based on the kind of tenants that would be placed in the rental condos, turnover, noise control - items that a normal live-in owner would make sure they self-control. 

Aside the usual due diligence/screening and placement of tenants, payment of property taxes etc, what are other items I need to point out to him during our meeting?

These will include items like insurance, property taxes, repairs, maintenance, and management.

They are both very responsible and would make great homeowners, it's the down payment in their market that has them stuck.I posted this on Facebook and got lots of feedback on the NOW generation spending too much money on non-asset-backed items and experiences.

I add it to the end of the notes.It's not a line item that "comes back" to me in the HUD.  

Books with specific tips and actionable items would be the latter type.

FYI - all of the above mention items here is Free -[ Podcast 1.)

I do understand that it would make sense that I would have implicitly capitalized items as part of the purchase price if the seller had done these things before I made the purchase.

Actually items 1 & 3 can be done by the same contractor.

I'm limited to items 2 & 3 but I'm hopeful that getting really good at them will make it work.