Cosmetic updates are easy to do, but the bigger items like plumbing, electrical, roofing, and basement moisture problems can delay leases, cause turnover, and eat cash fast.

You'll hear the talk that you should have a 95% etc etc. 95% er's rot out from the insides because of their high moisture content.

Best bang for your buck is probably water/moisture management.

I’ve seen it come from everything from old duct insulation and past pest issues to moisture in the system or a disconnected return pulling from an attic or crawlspace.

Uneven roof lines, old roofs, leaning porches, or heavy patchwork on siding usually mean structural or moisture problems.For quick math from photos, I assume cosmetics only if everything looks solid and just ugly.

The biggest cost sinks tend to come from moisture and systems, not cosmetics.

Note - DSCR does have condition standards so still have to take note of things like non working smoke detectors, any  - even small - moisture issues in a basement - I've seen pre-close stipulations.  

Just be sure you have all smoke/CO alarms up to date and functioning, straps on water heaters, eliminate moisture issues (aka the tenant's favorite word "mold"), etc. and all other requirements as the city's inspection list details and you should be good to go. 

In colder climates, pay extra attention to foundation type, moisture, insulation, and sewer lines, those are the usual surprises.

The GE model I've been using condenses the moisture inside of the unit and then it drains.