The unit has just been totally remodeled with over $35k spent on features including all new furnishings, paint, new stainless steel appliances, roof, new kitchen, cabinets, new electrical lighting throughout, new light up vanity mirrors in bathrooms, new washer & dryer, and new flooring throughout.What made you interested in investing in this type of deal?

When the panels are paid off, that's an even higher income stream.Another way would be to offer new tenants "free electric" with a higher lease payment.

I'm trying to avoid jobs that have potential foundation, roof, furnace, plumbing, and electrical problems.

I'm trying to avoid jobs that have potential foundation, roof, furnace, plumbing, and electrical problems.

The upstairs looks like it would hold 4 high-end 1 BR apartments, but would need the works: insulation, inner wall framing, plumbing, electrical, complete interior finishing and appliances.

Whatever is used to heat/cool the house (E.g. electricity) should have square footage factored in.

The only thing we had to hire out for was moving an electrical outlet that was a safety issue and a new water heater installed.

When they dug up my driveway and the sidewalk they discovered that they sewer line had also detached.That may be a rare expense but... hot water tank, furnace, roof, windows, electrical, plumbing (always plumbing issues), will all come up, and more frequently than you think. 

In addition look for competent subs as well (plumbing, electrical, drywall, flooring, paint, etc.) before buying.

We went with a forced air propane system and since there was electric baseboard heat in the unit prior there will need to be new ductwork installed also.