Figure out what market rents are, draft a month to month lease that details everything you want them to know (late fees, when rent is due, where they can park, if you allow pets, smoking, water beds, etc.)Once you have closed on the property, go to their unit and introduce yourself as the new owner.

.- replace front and back doors and door frame (2)- plumbing/wiring for Washer/Dryer hookups- get kitchen outlets up to code so appliances work safely- paint and add knobs to kitchen cabinets - kitchen sink fix (replace faucet)- insulation of windows - plastic lining- make sure smoke detectors are working/to code- get garage door working - needs to be hooked back up - exterior siding cleaning OR paintingLet me know if you think this sounds reasonable or not...

Unless the deal is smoking hot, which you could go the HML route, you're not going to get funding without putting a decent down payment down.Edit: Forgot to add the route of FHA+203k loans.

Getting a hold of the tenant is usually difficult.Call and Text Tenant, Post Late Notice on their Door or Hand Directly to Them.If I cant get a hold of the tenant, I will also post a 24 inspection notice that I am intending to enter the next day to do a smoke detector check and property inspection.  

It should also cover things like pets, smoking, parking, trash, additional tenants, subletting, etc.What your lease cannot have in it are clauses that are illegal and unenforceable.

they are for real.. but my dealings with them were that they are pretty well disorginzied.. but then again they are dealing with folks that have trashed credit... and usually not savvy to the financial world at all.. so it takes a lot of hand holding.. and at least when I sold.. they wanted me to give significant discount so the rate could be bought downat the end of the day though the buyer got a smoking deal.. but there is a huge drop out of those who just can't get through the program and probably never will clean up their credit etc.

Is this someone blowing smoke or is this something that is legally permitted? 

He said I don't have carbon monoxide detectors (I do, they are carbon monoxide/smoke detectors). 

I will say, when there's smoke, there's fire...

The only time with any of my properties I had to be there was with my one non-turnkey that a tenant smoked out with the fireplace and it needed a full rehab.