Many will sign a lease without reading it properly and end up paying all sorts of ridiculous fees, $75 chimney cleaning fee although they never used the fireplace, $150 carpet cleaning fee for ancient old carpet, etc.    

This basic approach goes to all amenities, heated towel racks, heated floors, fireplaces, pools, spas, wine chiller, double ovens, micro-convection oven, theater rooms, whatever.

The lease they sign then states they must show proof of all utilities scheduled in their name, required renter's insurance policy, and have met the requirements of any addendum (pet, fireplace, etc.), before possession will  be granted. 

Big ticket items are painting, microwave/vent replacement, garage door, fixing fireplace, etc.  

New roof to be installed in next month.Note: fireplace in master bedroom is non-working.QUALIFICATIONS:Gross income must be three times the rent and must be documentable (meaning income must be $3,750/month or $45,000/year)No evictions or foreclosures in the last 5 yearsNo felonies or other criminal activities in the last 10 yearsLandlord contact information for last two places you've lived or the last two years - whichever provides more contactsCo-signer is acceptable if you have no rental history (co-signer must meet all standards and may be subject to additional requirements upon review)No pets/animals over one pound - no exceptionsAll occupants must be on the original lease (no sub-leasing)All occupants must be met by property manager/owner (exceptions for military personal with recommendations and contact information for commanding officers)Maximum occupancy = 4 adults or 2 adults + 3 children12 month leaseNo Section 8Required for Move-in:1st months rent ($1,250+$48)Last months rent ($1,250+$48)Damage Deposit ($750)Utility Deposit ($150)TOTAL $3,496Rental application fee paid by tenant.

Several rooms will need drywall, paint, trim, doors, and some electrical (can lights, fireplace inserts, appliances).

Anything with quirky character, beautiful moldings, and a fireplace is ideal in my book.

My current relatively long term goals are to own at least 2 rental properties by the end of my senior year.Recently, a good friend of mine whom is also a Business Major at CSULB has informed me that the condo (3bedrooms 2baths 2 car garage and fireplace) that he has lived in for over a year now with 2 other roommates is up for sale by the owner and is willing to sell it to us for $200k-250k.

Easy to fill = less reduction in value and vice-versa.Another point to consider is that when you hold stock in a company and that company goes under, your stock certificates are only good for lighting the fireplace - you have nothing against which you can foreclose or otherwise recover even a portion of their former value.

-Some wiringPros: fireplace, the hardwood floors are really a jewel (once refinished, most houses have the vinyl flooring), new roof, and new siding.