So the property I bought had previous termite damage and we are having it repaired and treated however.

Not to mention, they also snipped all of the wiring in the basement of the home running all over the house, so there is also major electrical repairs needed. 

Research high-rental areas, plan for repairs, and consider simple upgrades.

There has to be an account in the middle for repairs, renovations, etc. and you want to know how that will be disbursed and if you need a workflow between you.If you decide to do it, just start small with an asset that is as close to can't lose as possible so you can fine-tune your collective process.

You also have PM, repairs, vacancy, and capex on rental property.

It looks like you're not going to finance the repairs.

Let's assume there is no CO obtained immediately after the sale (will do later after repairs are done), and no township or local-level inspections requested.Is the township automatically notified by the county of the sale or is there some mechanism by which they would learn about the sale and update their records, other than by the buyer telling them about it, or applying for a CO? 

View report*This link comes directly from our calculators, based on information input by the member who posted.Don't know the age of the property but due to what you stated the price point I am going to guess it is a bit older. 5% for repairs and cap ex maybe low in that case.

The repair work will likely involve the removal of drywall in order toperform repairs.

I think I gave a partial refund once in 10 years for an HVAC unit that needed repaired.