The roofs are in OK shape as are the electrical panels, but getting insurance on older apartment buildings is a nightmare. 

My issues are these:The current owner has no information about anything on the property including how old the roof is, how old the heating systems are, nothing. 

.): The distance from the property line of the front and side walls, porches, and exterior features of any proposed new construction must be compatible with the distance from the property line of similar elements of existing contributing structures in the context area.The exterior features of new construction must be compatible with the exterior features of existing contributing structures in the context area.The scale and proportions of the new construction, including the relationship of the width, overall height, eave height, foundation height, porch height, roof shape and roof pitch, and other dimensions to each other, must be compatible with the typical scale and proportions of existing contributing structures in the context area unless special circumstances, such as an atypical use, location or lot size, warrant an atypical scale and proportions.The height of the new construction must not be taller than the typical height of existing contributing structures in the context areas unless special circumstances , such as an atypical use, location or lot size warrant an atypical height, except that:a.design guidelines for an individual historic district may provide that a new construction with two stories may be constructed in a context area with only one-story contributing structures as long as the first story of the new construction has proportions compatible with the contributing structures in the context area, and the second story has similar proportions to the first story; andb.

The one hiccup we've had is that the roofs were in worse condition than believed - the owner mentioned that some of the roofs were recently done, but during due diligence, the inspection came back with a majority of roofs needing significant work; this was verified by the fact that there were no permits pulled.

If you do not see HVAC permits, roofing permits, or plumbing permits, this could indicate those homes that will need these items, within a few years.

My definition of a true turnkey provider is they have been in business for years, and have a in house property management company, and provide a true full renovation meaning they take care of the cap ex like roofs, water heaters, HVAC's along with a full cosmetic rehab. 

He asked me the age of roof.

I just don't want to start off with installing new floors, cabinets, counter tops, roof etc...I am looking to be more of a passive investor right now.

Less than 10 years old, stucco,siding, tile roof, 2+ car garage, 1800-2400sf at the lowest cost per sf (usually $55-$70).

We remodeled the bathroom, put a new roof, replaced the hot water heater, and bought a new refrigerator—so this year will be a loss, but we wanted to get the place to a good spot so we didn't have much to worry about.