This is also impacted by how old your home is, so that was likely a factor for me.From what I can gather, it's best to increase my personal liability for now and require the tenant to get renter's insurance to secure their own belongings. 

What I also recommend is also factoring in soft expenses that you are budgeting for but have not yet spent.

Having worked with institutional investors in the past, they often WANT vertical integration.  

It sounds like you've already invested a lot in rentals, about $14,000 when you factor in your upcoming projects.

Some of the things you have described sounded like the structural integrity of the home could be compromised so it might be more then cosmetic things.

Most your leads are going to be investors who want a steep discount anyways and they may factor in the savings in commissions (meaning you technically aren't paying but it is still factored into the price). 

With rehabs you can get to significantly lower purchase prices and typically the lender will just be looking for  a100k+ ARV so that you can refinance out of the loan once rehab is completed (100k as-is value is pretty standard for DSCR loans).With rehabs experience is the biggest factor to LTV and rate so partnering up with someone for the first one or first 3 will get you significantly better terms (working in the same area can also provide benefits in terms of LTV).

@Karl Kauper going to guess your current PMC:1) Is having too many tenant nonpayment issues for your likingAnd/or2) Refusing to share their background checks with you, so you can make your own approval decisions to address #1 above.Several factors may be at play here that you may want to consider before being trigger-happy:1) For several legal and contractual reasons, it's pretty much NOT possible for a PMC to share background checks with an owner. 2) What Class of property do you own?

There are many other factors that go into the cost of building especially in CA. 

what you consider the most important factors to look at."