Common mistakes to avoid as an out-of-state investor?

I use a commercial HVAC scent diffuser in the common hallways or the model unit during walkthroughs.It sounds like a small detail, but walking into a rural building that smells like a luxury hotel (White Tea or Santal) instead of "old basement" instantly changes the investor's perception of the asset class.

CASH: This most commonly precedes the market crash by ~12-18 months.

You can do a study in 2026 on a property that went in service in 2025 and then catch up the missed depreciation via a change in accounting method, that’s the common approach when people didn’t do it year one.

Julia Rowling - We're actually uploading a revised version with errors removed in the coming days . . . thanks for noting the issues.  

In this Market NYC in queens or Brooklyn or Bronx there is ZERO room for errors.

First of all, it's common knowledge 98% of politicians are full of 💩 98% of the time.

PLUMBING — SUPPLY LINESRemove all accessible galvanized supply lines in basementInstall PEX trunk and branch system to each unitNew main shutoff and individual unit shutoffs (label by unit)Proper supports, labeling, and pressure testNo in-wall work unless absolutely necessaryPLUMBING — DRAINSReplace all horizontal cast-iron drain lines in basement with PVCReplace only visibly failed vertical sectionsAdd minimum one accessible cleanoutCheck all vent stacks in atticInsulate exposed vent stacks as neededTie into existing stack and sewer lateralELECTRICALRemove abandoned/exposed knob & tube in basement and attic onlySecure open junction boxes, cap unused wiresPanel tighten, label, safety checkReplace unsafe breakers if found (no panel replacement unless quoted separately)Install basic LED pull-chain or strip lighting in basement common areasWATER MANAGEMENTSeal visible foundation penetrations and cracks (interior)Improve grading where soil slopes toward foundationAdd/extend downspouts to discharge away from structureI suggest doing a renovation of the units individually to achieve the targeted monthly cash flow and appreciation. 

This seems like a common practice, and am new to all this.Any insights would be appreciated!

Think in small, predictable adjustmentsIn most stable situations, modest increases tend to create less friction than skipping increases for years and then making a large jump later.A common range many landlords land in is two to four percent, assuming rents are not already well above market.3.