Mini-splits are good for smaller open spaces, but would not be good in a segmented floor plan, unless you plan to install multiple units.

Possibly using a professional third party vendor for the pre-inspection is a great idea, give a copy to the owner and tenant Excessive holes in walls Broken tiles or fixtures in the property Plumbing backups Repainting where a tenant has repainted from the original color Tears, holes, stains or burn marks in carpets Missing or damaged blinds Broken windows and window screens Broken doors and locks Broken or damaged appliances Excessively Dirty Pest control if you see Bugs and or fleasJunk or trash left behind Past Due rent Fees incurred from fines from the association due to the tenants conduct or lack thereof Water damage to hardwood floors Missing outlet covers Remotes for garage or gate if not returned Rekey of locks if tenants did not return the keys Unpaid utilities, as long as they were part of the lease agreement Undoing a tenant alteration This is a sample of things that are usually considered to be normal wear-and-tear and should not be deducted from a security deposit: Slab or plumbing leak Normal rug wear.

It has 4 apartments (1 bd, 2 bd, 2bd, + 3bd) and two reality spaces in the ground floor.

Certainly, Class A is what can get overbuilt / over supplied over time and hence, those folks playing in that space need to watch metrics more closely that impact new constructions like absorption rates. 

This is good.Also, a little backstory:  the reason I mentioned insurance, was a developer I worked with in Colorado finished a condo complex in the early part of the 2000's, when there was a rogue lawyer whose business  model was buying a condo, tearing into the structure looking for any defects (as minimal as sheetrock screws might be spaced @ 12" instead of 8"), then going after the builder, which of course was actually the deep pockets of the builders insurance company.  

So you either own a house or are looking at properties and you smell a really bad musty odorCould be mold or it could be stagnant air in the crawl spaceI recently was working on a home where there was a really really bad musty smellIt was enough to make you sick I thought mold remediation and was imagining the costsThen a native from the area heard about my problem and asked if my crawl space vents were openedHe stated  the air can get really stagnant if they are closedSure enough they were closed by whom?

The surrounding area looks nice - lots of green space.

Ironically, I live in Hawaii and am looking to get into the Pittsburgh small multifamily space.  

That is one idea that would seem to work for you amongst others but seeing that you want cash flow, don't want to worry about financing a deal, just go find expert (syndicators) that can get you into deals that create excellent cash flow and IRR (think 10% CoC and 20% IRR as achievable in this space) and let the syndicators leverage their assets to get the financing, take all the risk, you come in as a limited partner, help fund the deals and get paid quarterly cash distributions.  

There's a large, unused space that's bare bones on the ground floor (as in looks like a basement, concrete floors and walls)  that could be renovated into an extra 1 bedroom unit.