I also think many buildings I view are super outdated and I view the landlords as just milking the buildings and not putting money back into them so I view it as buying someone's else problem.

That said, through conversations with brokers in the area (and evidenced in the comps I’ve created) I’ve learned that this strategy may be slightly outdated as most properties are currently at market rents given the current rental environment, expenses aren’t a realistic lever to rely on to add value, and there is a real risk I get priced out of the market by buyers with cash, 1031 exchanges, and with longer term hold strategies willing to pay an extra $10-20k per key.

The pricing in the book is outdated now, of course, but the fundamentals are still there.

Only exception to that in my experience with my own area is if the hardwood is some sort of goofy/outdated lattice-look, since sometimes that doesn't match what people in a market are looking for and actually makes your house look really dated.

I wouldn’t recommend blocking out dates unless you or your family plan to use them.

If not, confirm the move-out date of the tenant as it has to be empty within 60 days of closing.4.

At that point, if your tenant is not willing to renew,  you simply advise the tenant that you will not be renewing their lease, and provide them a move-out date by which they must vacate the property.  

Or old and outdated.

However, I am worried about the outdated electrical and water systems for safety concerns.

The tenant tried to toss a lawyer friend of his at me on move-out date, complaining I was being “unreasonable” and forcing him out of his home.