I buy new (scratch/dent) stainless steel refrigerators for 400/500 in providence ri.

No way I would invest in RE with that kind of capex.For a refrigerator, I find the best one on Craiglist for $150, I do the same for the stove.

The words "fire hazard" got me concerned so I called an electrician who went out the same day to look at it.After looking at the problem, the electrician called me and said that the "clicking noise" she heard was the sound of the compressor kicking on in a dorm sized refrigerator she had.

Sometimes renters in the low income area need to be taught how to be a good tenant...everyone does not have the patience for walking through the lease, providing checklist sheet for inspections, providing "do's and don't ever" list, giving out property manager's # refrigerator magnet, $25 rent discount coupon for 3 excellent inspections. 

Some of the larger expenses-Interior/Exterior Paint, Storm shutters for a few of the front large windows, added additional cabinets to one unit, New refrigerator from Dent/Scratch store after old one died, Laundry units that tenant pays +$50/mo for etc.

And the best part.....The owner accepted $16,000There’s a ton of cleaning for the upstairs apartment and I have to replace the refrigerator.  

We found the house (which is a very nice house in a very nice neighborhood ) filthy all the way down to inside the refrigerator.

If I replaced refrigerators to fix seals every 5 years in our 18 unit apartment and our 16 unit apartment, that's $3,400 annually.

Let the tenants know that the emergency leak detection inspections will continue until the source is found...then either they will stop or PM will find a sink that did not turn off, or a toilet linking, or like in my case, a cat that liked to play with the refrigerator water until he made a small lake in the kitchen.