Unfortunately, this is all to common when people are trying to do rehabs remotely.

Unfortunately, many college students (not all of them) do not keep up with preventive maintenance and are very destructive.2.

(Safe harbor for small taxpayers, De minimus safe harbor or Routine maintenance safe harbor).  

There was a lot of hard work, determination, and persistence in this project.Rehab Budget Row Labels Sum of Amount Details of Rehab Exterior Improvements $367,020 1) All Exterior Carpentry, Brick and Painting Work2) Tree Trimming3) Foundation repair work for 2 building4) French Drain to reduce soil movements HVACs $146,307 New HVACS replaced as needed Interior Unit Rehab $502,094 1) 5K Budget on average for a unit interior.2) Total 81 units remodeled including new painting, crown molding, new vinyl flooring, new stainless steel appliances, new fixtures, resurfaced countertops, new light fixtures, new ceiling fans Landscaping $30,000 1) Landscaping near Office area and Villa Lighting $6,932 3) Exterior porch lights and critical building lights Maintenance Tools $10,653 4) Maintenance tools such as HVACs Gauges Office/Laundry/Community $76,718 1) Office were renovated completely.

C neighborhood.Repairs/holding costs: $17,500All in:  $20,500Rent comps: $445CoC return:  10.7%1% rule:  2.2%Actual cash flow:  $183/moIt's 100 years old, so I'm factoring into my expenses10% Capex, 10% ongoing maintenance. 

It’s common knowledge that pricing has moved upward (and from what I read here, investor expectations don’t seem to be on par with that but that’s another story).

Also a lot of money in the common areas, lounges and lobby.

Don’t share the address just ask the question generally.Asbestos siding is surprisingly common on older homes in the upper Midwest.

That is old news.  2x4 and 2x6 construction is mandatory, and drywall and midrange or better finishes are  most common. 

That being said, you can overcome some of the challenges of distance with technology, such as if you receive video (or photos) along with maintenance requests from your out-of-state tenants, allowing you to keep some visual on your property from a distance.If you are comfortable with distance, there is a price-to-rent ratio that may come in handy for you and end some of the analysis paralysis.