However I have done many loans in Jacksonville, and the pan handle as well as looking to expand into the Tampa area.  

With pictures to prove it.These are what the the Property Management company is charging:Carpet and tile cleaning $155 (specified in the lease - not disputing)Cleaning $96 Touch up painted interior walls and Trim $135Replaced burned out regular and vanity type bulbs $19Cleared clog from front bath sink $25Replaced bad stove top burner pans $27Replaced bad outlet plate $4I believe that they should not be able to charge a separate cleaning fee (#1 because we cleaned it and it was rent ready, #2 they already charged a $155 carpet and tile cleaning fee).

That could have been a big problem, luckily , it wasn't but I don't want tenants waiting that long to contact me.The only time they are responsible for anything is if it was a direct consequence of something they did or didn't do such as their child that flushes a doll down the toilet.

 $5,000 (could go with cheaper laminant and save $1,500)4) Gut the two small bathrooms $7,000 (Replace bisque jetted bath tub with white standard tub, reframe leaky tile shower, replace vanities/ toilets.)5) resurface kitchen cabinet doors $1,6006) granite counter top ~$3,0007) Remove structural wall separating living rooms $2,0008) GE appliances $2,200There is other work to be done (HVAC, foundation, paint etc.) but items above are the ones with potential for cost savings. 

Since the country has been on the verge or maybe already has defaulted and unemployment has gotten so high their economy is in the toilet.

My past investing has been purely in high risk derivatives for the last 10 years which hasn't panned out well at all.

I whined that ( back then ) you could make 15-20% in a mutual fund, without anybody calling you about upchucking toilets. 

All kinds of issues...electrical outlets ungrounded, plumbing issues, flooring issues, a deck that was built wrong, a new master bath that didn't make any sense with a shower door hung wrong, a shower pan that had been nailed through, roof repairs made with 3/8" plywood, roof leak "fixed" by caulking the shingles.....new vent boot that wasn't nailed or seal, bath fan this venting into the ceiling....an unreal list.  

Tenants and toilets, two necessary evils of buy-and-hold real estate :)

Note investors often prefer to end up with cash flow on notes and avoid the problems of dealing with toilets and tenants that landlords have.