They typically have to cut open the walls, remove any damaged/affected material, dry everything out, and then build it back up.I'm really surprised the mold remediation took place without first determining - and stopping - the source of water.

These types of markets are a great way to enter long term holds without excessive risk while you work on your processes. 

wouldn't that be excessive amount of money?

For instance the one I am buying has stucco exterior, new roof, dry basement, new furnaces (3 of 4), new hot water heaters, new plumbing (except for some of the drains). 3) Vacancy - My four unit has only had one vacancy in 15+ years.

The best use of the digital camera comes from using it in conjunction with a small dry erase board to capture information.

Yes, your lease will state that you can go after the tenant for excess damage.

In addition to what Ned mentioned, you will also have advertising, entity maintenance, legal fees, evictions, court costs, periods of high vacancy, damage done by tenants (in excess of the security deposit), lawsuits, utilities (at least during vacancies), etc, etc, etc.

For example, significant damage done by tenants in excess of the security deposit (often thousands of dollars), is an expense that may only occur once in a many years.

I don't know if you're a buy and hold or flipper, but if you're buy and hold I can tell you that last time (in Houston) the big decline in rents TRAILED the decline in prices by a few years.Those rents STAYED DOWN as a lot of the excess inventory was snapped up by BUY AND HOLD investors who then NEEDED to keep those units rented.

If I feel that it is too excessive such as working with new people, open houses, I typically have a double blade push knife on me.