Tacking an upgrade like that on as the condition of another upgrade might be the city's way of making sure that eventually, everyone has a hardwired alarm system. 

Landlord can dictates the terms and conditions.

One of them is in very poor condition. 

I would not be able to do repairs using the VA loan, as the house needs to be in new/freshly renovated condition.

The roof of the building was in good condition so it will not need to be fully replaced (and since this will be a rental building and not a condo building, we can save this expense) and since the exterior is brick, there will be no need for new siding (some minor brick repointing will be done).

Why wouldn't he sell it for $400,000 in good condition and take the $100,000?

However, home is newer construction, excellent condition, and has some custom features.What do you guys think of this purchase?

They advise clients about market conditions, conduct walkthroughs, and provide guidance and assistance through the process of buying, selling, or leasing properties.

@Amir Ainsworth while the rate is important so is the terms and conditions of the loan.  

We've seen too many investor buy supposed rehabbed turn-keys, only to find out they got burned when they hire us to manage them and we provide an Evaluation Video showing he true condition.