I have seen a couple local homes have water heaters or furnaces that were installed before completion of a wall, making them virtually impossible to remove once they're dead.

If you had had a discussion at lease signing that was recent about no mods without written authorization, i would not renew. if the guy acts like its his house and he should be able to do whatever he wants and that you can pay when he messes up, i would not renew. its interesting he had you come out while the compressor hookup was in plain view.

Hi Jonathon,Lots of things to consider:1: One of the biggest expenses will be water and sewer, if the city provides and the tenant pays it may be worth considering if the numbers are right.  2: Who owns the homes, if you do expect to do a lot of maintenance that will eat into your profit, if they are all tenant owned that's one less thing to have to worry about.3: How are the roads, if they are torn apart this can be a significant one time expense that will need to be addressed sooner rather than later.4: Is there any empty land included or adjacent to the property that can be used to expand in the future.Hope this helps get the ball rolling.Regards,Omar

I thought they might be hiding in plain site, just need a new lens.  

One additional thing I would do before the ionizing  and the Kilz is to bleach treat entire area with a 50% bleach water mix.

Cap Ex and Ops Capital Expenditures and OperationsCap ex is the money you need to save to fix roofs, water heaters and furnaces. 

They seem to have a wait and see approach to homes that are under water. 

I had a case where the upper unit would pour water on the bathroom floor so that it would come down on the lower unit. 

20% of the gross value of what can be built on it minus whatever it takes to make it buildable, like water and sewer taps and any other utility cost or cost 

In my research I've seen many warnings that have been, "wood with water is never a good thing" and various warnings about insects.