The biggest thing you can do there is make sure the company knows what looks like a good deal to you. 

My wife and I were talking more about it and our biggest learning from this one is likely starting with month to month.

We always ensure that the tenants know their rights so that the performance is not hindered by the sale of the property.While I do believe that a landlord has the right to allow a tenant out of their lease as long as both parties agree upon the termination of the contract... my biggest problem is that they are agents of the owners.

The biggest thing for water heaters, aside from the parts going bad, is rusting, and believe it or not some mineral scale actually protects the heaters from rusting because it forms a coating on the inside of the tank.

You can show them what you plan to do if their oven breaks down, if they have electrical malfunction, if plumbing issue comes up, if neighbours disturb them etc.You can ask them about their biggest concerns and tell them how you will act if something like this comes up. 

my biggest thing is calculating my return....So compare how much you are putting in to acquire vs. how much you will earn NET by end of year.Be as accurate as possible in accounting for your expenses like holding costs (PITI, condo/HOA fees, maintenance, vacancy)In terms of paperwork, it's fairly easy to obtain if you google it or can pay a RE agent/atty minimal fee.If this sounds overhelming, i wouldn't pull any triggers.....you need to keep researching until it sounds digestible and then manageable.

This includes mold, asbestos, termites, sewers, foundation issues, jacked wiring, etc.Things like furnaces and roofs are discrete problems that anyone get get a pretty tight bid on and are usually straightforward.For me, the single biggest deal killer is functional obsolescence or ill-conceived DIY additions done decades ago.  

The biggest difference in this aspect though is that it is the seller who finds the buyer, not the real estate broker.  

The biggest drawback to small multifamily properties is exit position.

I appreciate any feedback as I am starting to think our biggest mistake in this was being nice in the first place.