One water heater will need replaced.

Unit 1 - Painted throughout, installed new floors throughout the downstairs, replaced appliances, kitchen cabinets, the bathroom vanity, the majority of the light fixtures, and the old dirty light switches and outlets.Unit 2 - Replaced water heater and rangeOther - Repaired roof, added some foundation supports, and added curb appeal by painting the patios/doors, replacing porch lights, and putting new house numbers on top of the paint What was the outcome?

Unit 1 - Painted throughout, installed new floors throughout the downstairs, replaced appliances, kitchen cabinets, the bathroom vanity, the majority of the light fixtures, and the old dirty light switches and outlets.Unit 2 - Replaced water heater and rangeOther - Repaired roof, added some foundation supports, and added curb appeal by painting the patios/doors, replacing porch lights, and putting new house numbers on top of the paint What was the outcome?

Unit 1 - Painted throughout, installed new floors throughout the downstairs, replaced appliances, kitchen cabinets, the bathroom vanity, the majority of the light fixtures, and the old dirty light switches and outlets.Unit 2 - Replaced water heater and rangeOther - Repaired roof, added some foundation supports, and added curb appeal by painting the patios/doors, replacing porch lights, and putting new house numbers on top of the paint What was the outcome?

Basically - all developer impact fees from a local agency (city, county,special district, water corporation) are removed if under 750 square ft

Water heater?

You can get it on amazon, dilute it with water in a pump sprayer and spray the baseboards on exterior walls, and spray around the outside walls on the house and you should be good to go.

To replace a bad water heater might be $40 for the 1st hour plus $25 for each additional hour labor plus materials.

We had the existing tenant sign a new lease prior to closing at $1050 per mo, tenant pays all utilities including water and shovels/mows. 

Little things that can add up to  be big things financially like garbage, water & common area electrical, landscaping.