Remember to use this bank account for business expenses such as meals, car repairs, gas, tolls, business travel, home office expenses, and other items used in your business (i.e., iPad, laptop, etc.). 

Resident also agrees to immediately report to the owner/agent any evidence of water leaks, excessive moisture or lack of proper ventilation and evidence of mold that cannot be removed by cleaning."

So a small problem like a leaky sink which could of been fixed by a plumber easily now is a flooded kitchen before you get a call because the tenant was trying to save $100 and was ok with keeping a bucket or towel under the leak.

If that includes electric and gas you’d have to sub meter most likely.

They completed two Evap cooler/ furnace to gas pack conversions (2.5T ea) for me at $7000.

Has a great double detached 2 car garage and nice lot.Tenant pays water, gas, electricThis seems like a good first deal to me but if anyone has advice it would be appreciated. 

There is a good side to this, having this work done will guarantee the basement will never leak again and it will be under warranty for the life of the home, it is also transferable if I sell the house in the future, making the property more appealing.

What types of routine or emergency maintenance will it need (water leaks / exterminator / smoke & CO2 detector maintenance / air filters / gutters / outside maintenance / paint / flooring / refresh between tenants, etc.).

Which is why wholesaling is much more attractive because it requires no start up money. you cannot successfully wholesale as its taught by on line courses or gurus if you have no money.. the successful wholesalers be them licensed or not spend THOUSANDS upon THOUSANDS a month on lead generation.you could bird dog.. maybe with limited captial just gas and a phone and hope that you get paid. 

They kept two cats and two dogs inside, and the place nearly required a gas mask to step into (and this is coming from someone who has animals in the house and is used to the smell).