I would surmise to say its the #2 most important diligence item regarding property condition items (behind home condition).  

If it is, can I assume I am able to renew on a month-to-month lease under the current conditions?

Hello!
I'm in process of rehabbing the top floor of a duplex (this unit is 4 BR / 2 BA about 1500 SF) with plan to refinance and keep as a long term buy/hold rental. We acquired tenants downstairs - they're on a M2M ...

Look at homes with the same number of beds/baths/sqft/garage/basement etc....pick homes that are in similar condition. 

This depended on market conditions and whether or not there were pets.Keep in mind I was always at least 4-6000 miles away.

Originally this was our family home that we bought from a builder around 2005 and then took out a HELOC to do landscaping, air conditioning, blinds, patio, and other stuff that a new builder home needs. 

The price for a property that size will vary on various different factors- market, age, condition, how it is currently being operated/income, etc.

Let’s take skiing for example:Some people will start their skiing pursuit by first doing conditioning in the off season, so they’re in great shape.

The house was in a very good condition almost like a new home. 

In addition I also had to hire cleaners for like major cleaning , since the place that was handed to my tenants was super clean, and had bbq polished clean , yet I received it unclean, unwashed, technically I should be legally able to charge them for that, since the condition i received is not the same.