I’ve seen some stuff online that suggests I might assume the previous owners depreciation schedule (which would be bad because they’ve owned it a long time).

@Alexander Merritt   IMHO low end rentals are only suitable for local investors that are in the landlord business and are going to scale up and own as many as they can get 100's have your own PM and maintenance and that's the ONLY way in my mind that stuff will work over any amount of time.buy the best that you can if your just starting out.

Turn key rehab: $8K (cosmetic stuff - carpet, paint, appliances, new fixtures and landscaping)Cash-flow property for 5 or 7 years:Rent rates in this neighborhood are $1,800+, or $2,200 for mid-term, and $2,600 Co-livingExit strategy: Due to the 5 or 7 year appreciation cycle, your property is now worth $400K+ *calculators can do this now!

Most of the stuff closest to the city is just too pricey. 

Finally, another offer and another nit-picky list of non consequential stuff to fix (including a small tear in a window screen and a front step that had settled and was now 1/4 inch lower and out of compliance)!

Cat and dog hair is not your AC friend.  

That off-marketing deal finding stuff is not my cup of tea, personally. 

Thanks,Miguel Suarez Go on youtube and google Millenial Mike (He does alot of stuff with One Rental at a Time). 

I said never again and today don’t let any of my tenants get away with stuff that makes me unhappy or stressed.

your going to find very few sellers will even remotely understand what your doing and if they go to legal advisor they will kill it.. your correct though its this sort of stuff that sells  books tapes mentorships susbscriptions etc..