There are a lot of small maintenance items (like a door jam, toilet clog, blind malfunctioning, fireplace pilot light out) that I don't have the resources to cover at the moment they occur.

Here are some of the missing items...

The inspection period is a negotiable item.

Remember deposits are to cover damage and for larger items you need to prorate them so budget accordingly.  

@Mike Wood You are exactly right on your expense itemization, plus anything that may be extraordinary about the property in its operations, but i think you are spot onI always tell investors look at the OM as your starting point, never take those as the gospel.

The plumber cost less than $5000 8 years ago, and that included installing washers and a couple of other items, so i'm already ahead.

Request a sample settlement statement that has line item break down of all charges.

Crawlspace/foundation, roof, and mechanicals are usually my most expensive items to look for

One very underrated item has been being right across from the free bus stop in Steamboat.

Items needed to be addresses would be: majority owners, decision makers, percentage of return for family members that want to throw in a little cash on the deal and get a small return, buy out options and other items that I am not aware of that could cause potential issues between family members if something like this is not drawn up in the beginning.