Put 5% down, maxed out 3% credits, got an additional $3,000 out of inspection items, rolled commission into deal, after all of that and prorated rents we only came out of pocket $2,000 for the acquisition.

Maxed out 3% credits, ~$2,500 on inspection items, rolled commission into down payment.

I will simply buy the item, then hire someone to go and pick it up and put it in storage.  

We do other items as well, or can help answer simple questions if you'd like. 

Jason,They'll do an estimate of the repairs and you can start with that, BUT I would urge you to get a contractor you trust involved and then they can discuss items back and forth.  

There's a long checklist of items to prepare before you start your direct mail campaign:1) Is it scalable (manual letters aren't) 2) Are you using your time in the most efficient manner (handwriting is ok for starting, but you need to hit 1000s of targets to get the responses to grow your business) 3) Is your message correct for that market?

Most of them are $10 or a bit more with extra digital items included, and it's very easy to add your info, brand the colors and then upload it to Dropbox.

Now I primarily use RE for diversification, the tax benefits (down the road, I have to pass them on now), appreciation and equity capture at the buy.

But like you mentioned, don't forget guests need room for their items too.

That includes planning for and anticipating large repair items and having a reserve for that.