What would you fix ? I just closed on my first rental property.

[Linus Cui]

Thanks for BP community. I made my first step as a new real estate investor, I am going to close my first rental property next Friday. It is a SFH built in 1967. And needs some fixes, here is a brief inspection report. I would like to hear about what you would fix before renting it out to avoid troubles in the future?

1) ROOF: This roof is estimated to be approximately 23 years old +/-. There are two large and
two small patched areas. The roof appears to be a 25 year type roof. Roof will need replacement in the near future.

2) EXTERIOR: - (including siding, drive/walk): No problems found. Note: the large rotted tree stump in the backyard near the
house has active infestations of wood boring beetles. There could potentially also be moisture ants and/or dampwood termites in the
stump. Recommend removing the stump to prevent the entry of wood destroying insects into the house.

3) DOORS/WINDOWS: Most of the windows in the sunroom have broken thermal seals, resulting in moisture intrusion
between the glass panes.

5) ELECTRICAL: A) The GE electrical (disconnect) panel is recessed inside the wall a couple inches. The panel is supposed
to be flush with the wall surface. Some of the breakers have old rust and minor corrosion, as well as some of the wire ends. It takes
7 breaker throws to shut off all power to the panel, whereas the code requires all power to be shut off with no more than 6 throws.
(Two of the single breakers might possibly be able to be moved from the top right corner to the lower section, and replaced with a
double breaker with a handle connector, which would allow the 6 maximum for power shut off to the panel). Advise having an
electrician check the panel, and make any necessary repairs. B) Recommend protecting the kitchen and bathroom outlets with
GFCI type for safety.

6) PLUMBING: A) The water supply pipes are galvanized, copper and plastic. Galvanized pipes are prone to interior rust and

corrosion, which reduces water pressure over time. Pressure appears to be ok at all of the plumbing fixtures. B) The Rheem
water heater is only 2 years old. Earthquake straps are needed on the heater. A ¾” pipe needs to be installed on the TPR valve,
terminating to the exterior.

7) HEATING: The Payne furnace is 29 years old, and is beyond the end of its normal useful life of around 25 years. This
furnace may need replacement at any time. Advise having checked and serviced as may be neede.

10) ATTIC: The bathroom ceiling fan is blowing directly into the attic. This fan duct should be terminated to the exterior.

11) CRAWL SPACE: A) There is a 5 foot diameter hole, and about 18 inches deep, in the ground under the center of the south
foundation wall. A few old tree or bush roots are visible in the hole. There is slight efflorescence (white powder) on the soil, which
indicates that this occurred at some point in the past, and most likely not recently. The soil was dry, and there was no indication of
current or recent settlement. Recommend having the hole backfilled as needed with appropriate material. B) A 12 foot section
of the cast iron waste pipe in the NE section is rusted and leaking. Several other sections have visible rust on the underside as well.
Recommend having the pipes checked by a plumber, and replaced as needed. C) Much of the soil is bare, with no vapor retarder

By looking at it, things on top of my mind that needs attention is
1. replace roof 
2. replace furnace
3. crawspace: 3.1 new vapor retarder, 3.2 fix leaking pipes. 3.3 fill the hole probably?

Would like to hear from experienced investors on what I should fix first.

Thanks a lot.