Consider scheduling a maintenance inspection - snake the drains and do some mtc checks, but keep your eyes peeled for an criminal or suspicious activity.

inside of refrigerator and pantry-grind lemon or grapefruit peel in the disposal for a fresh scent in the kitchen

Vacant properties - I classify these separately from  "abandoned", so I'm looking for For Rent signs, no window coverings, signs someone has recently moved out, etc.Abandoned properties - over grown yards, old fliers on the front door, anything that makes it look like people haven't been aroundDeferred maintenance - trees hanging on the roof, broken windows, lots of peeling paint, fence falling down, et.cFor anything except the For Sale by Owner and any property with a For Rent sign - both of which should have a phone number on the sign - I just use the county tax site to get owner contact information and send them a letter.Here's a link to 2 excellent Blog posts from Chris Feltus on Driving for Dollars...http://www.biggerpockets.com/renewsblog/2013/05/03/driving-for-dollars-bible-part-1/http://www.biggerpockets.com/renewsblog/2013/05/10/driving-for-dollars-tracking-owners/

If that is not your speed, then peeling exterior paint or single pane windows will disqualify a property for an FHA or other low down loan and can make it cheaper.That is my strategy in my area. 

Do your own alalysis, peel back the onion on every property: verify utilities, services, infrastructure, etc.

Being able to peel the deal apart the way you both did comes with experience and "veteran-eyes"...

If it has old coating that is buckling or peeling, carefully cut it off for clean surface.

Only someone with underwriting knowledge can really judge the time required in light of all other debts, a new payment, past credit sins and informing the buyer what they must do in order to qualify later on,  the RMLO should be able to do that, should be able, at least having them involved peels away your liability that can be inferred if your deal blows up.

Trying to mask it under the name of an LLC is deceptive and fraudulent.

I'd say $400 is a rip for a note and DOT, here title companies use to peel them off for free.