The condition of the major systems – such as the plumbing, roofs, siding, windows, and HVAC – are absolutely crucial to assess as they figure into the capital expenditures budget. If the major systems need work, then you better make sure that the contingency fund is robust enough to fix those systems if need be. We recommend that you ensure your sponsor assesses the major systems rather than taking the owner or real estate broker’s word for it as to their condition.