Swap coolers are not the best.... water leaking, only work when its cooler- not geared for the climate changes and hotter summers we are seeing. 

So we walk through a property and look at everything from the flashing around the chimney, plumbing, is it galvanized, cooper, pex, is the main line updated, is the stack rusted, is there chipping paint on the exterior or interior of the windows, roof leaks, electrical, etc, etc..Once we determine the work needed due to the age of the mechanicals and the condition of the units we work backwards to get accurate P+L's for the property. 

The iPhone app is quite good.

I bought an office unit few years ago, and every year when we get large rain storm, i have water leaking into this office floor.

I had been all over this roof doing some sealing around vents, etc and told the insurance company the roof was fine, wasn't leaking and I would take care of any issues when "I" decided it needed attention.

We have had to redo all electrical, some plumbing as it's an old building (1945), change a kazillion lights to LED, repaint entire apartment, remake some custom cabinets that had water damage due to floods/leaks in upper floors, etc. and replace all the original kitchen appliances that wore out / died. 

We bought the home and the inspector said everything was fine, even the roof that had a "dry" leak that was fixed.

We bought the home and the inspector said everything was fine, even the roof that had a "dry" leak that was fixed.

This is a prime RTR example in my city...this is the most homicidal neighborhood in Columbus...to give you an idea, gun violence is so bad here the police created technology to "hear" bullets so they could respond quicker...I know the maintenance man at a nearby hospital that informed me they have so many roof leaks they can't keep pace...all from falling bullets....I have seen gang members chasing other gang members with shotguns nearby...I don't drive in this neighborhood because everyone is drunk at 10a and nobody has car insurance...After sitting on the market for 242 days an expiring at $49k list price, RTR "flipped" this proper for $120k resale and represented the location as B+...most of their Cleveland inventory is like this... this isn't just RTR...this is the bulk of the TK industry...Here are your current closed compsThis is 165 S Oakley...$105k...full reno and move in ready I'm not calling out RTR arbitrarily...I have nothing personal against them...these are just facts that I know about Ohio. 

Also concerning from our perspective as a landlord if there was a true emergency like a major plumbing leak or furnace failure (frozen pipes) that could cause significant damage if not addressed quickly.