I agree that the drainage issue is something that you may want to look into correcting asap because it could result in mold or further damage.

Please include:When and how is rent to be paidWhen and how are utilities going to be paid (if any)When and how is the cleaning going to be (if shared or provided)What are the costs associated with damages / breaking stuff / calling a technicianWhat are the costs of breaking the lease, finding a replacement if you are doing short term leases on the roomsIf they lost their keys or check bounces what is the charge for it, how the cleaning of the common areas is going to work, and enforcing quiet hours.

We hear lots of complaints about landlord laws, delinquent tenants, and homeless encampments causing trouble/damage. 

However, it is important to keep in mind that foreclosures can come with additional risks and challenges, such as property damage or outstanding liens. 

For example, the first realtor viewed the property for us but missed out major damages until I flew in myself and saw the property.

I was thinking your floors should be last so they dont get damaged while all the work is getting done.

In your case properties appear to be fairly low value already, which suggests low demand and the potential to damage property values by building mfh there.

Most of the damage in NJ from the hurricane took place in south jersey.

I totally value and want a property manager to take the day-to-day management off my hands, but on issues with tenant damage and I would like to be kept up to date on matters, as well as have copies of all notices provided to the tenants for my own record keeping. 

In this case it involved removing the damaged mailbox and installing an equivalent one.