@Karen Oduok  hvac is too big cost of an item to leave maintenance on the tenant.

The short answer is yes, they should provide you with an itemized reciept and if they are markign up, that should be a clear line item.

Strategy is long term hold.Question - Apart from getting inspections done by a quality inspections company, what other items do I need to verify or consider as part of due diligence, before closing or in order to decide Go-No-Go?

Which markets (Cities, States, Counties) are producing the highest cash flow while keeping purchase prices under 100K?

You're investing in RE for long-term wealth, not a few hundred a month that can be wiped out with one CapEx item.

This will likely differ depending on the market.

It is a rare off-market property that does not involve work and/or have risk items.  

The 25K would go towards a rate buy down.As far as accounting for cap ex and maintenance for newly replaced/updated items, I'd still recommend doing it.

I always say "off market" is just a marketing term. 

I am working on developing the marketing strategy for my new wholesaling business.