Anyways we finally agreed on a price of $24,000 cash and no note.After the inspection, I was able to get the price down to $22,750, I put around $1,500 in it to make it rent ready such as painting the half bath, changing the light fixtures, and touch ups.

Anyways...House listed at $132,000Got them down to $105,000Rents would be $750 (2Be/1Ba) & $850 (3Be/1Ba)Needs: New roof $14k, Furnace $3k Touch Up $3k, All in: $125kFHA: 3.5% DP Closing Costs: $8200House has been appraised by FHA at $105,000Monthly:Rent: +$1600PITI: -$780Vacancy: -$130Maintenance: -$120 Cash Flow: $570I realize this may not be the greatest numbers however knowing that I have replaced the roof and furnaces would relieve me of any significant costs for 10+ years.

Last turnover after 6 years occupancy needed only paint touchup and tree trimming.

Just sold one in two weeks with all trim done this way and the realtor comments were "like new" and it was just Costco laminate floor (a good midgrade) and the decades old trim refinished this way-- with literally a couple of bucks in material (you will not even use a whole quart on an entire rental unit) and lots of elbow grease.The coats of poly are a pretty hard shell finish on the trim and also--fixable--as you already have the product to touch up on a turn around...

We have just a little bit of touch-up left and then we're ready for July 1 occupancy!

Considering the property is in immaculate shape and only needs some drywall touch up and paint, I can't help but think this property is a steal. 

We also use those wood furniture scratch pens to touch up shelving in kitchen cabinets and closet shelves.Under the kitchen sink, at the bottom of that cabinet, we place a non-porous scrap piece of counter-top laminate and hold it in place at the front with a removable trim piece we make out of wood.

This is bit more destructive, but if you are careful you should be able to put the trim back in with a little caulk and touch-up paint.

Units don't need work, but could use some touch up.      

Re-apply grout to areas requiring (shower corners and floors, mostly) and then using colored silicone to match, finish off all areas requiring soft joints.TRIM: Adjust all interior and exterior doors to latch (80, 84); repair all windows for freedom of movement (81); Replace broken window to kitchen (81)FRAMING: Repair over-notched flooring joists (89)EXTERIOR: Remove soil from wood contact (4,11)PAINT: Touch up baseboards after all polly work, walls and doors.ATTIC / PESTS: trap existing rodent infestation using cages, clean out all contaminants, seal off entry points (68) GROUNDS: Replace rotted wood (2), Add drip edge and replace piece of damaged wood behind HVAC unit (6); replace rotted corner boards (7); replace damaged siding and paint, as well as siding screws and loose soffit (9)