And when you figure out what they are looking for, you know exactly what to make sure is in good working order.4th. 

Pretty new to this forum, figured it was worth a try!  

Then I purchased rentals myself and grew my portfolio to over seven figures.

I manually go through every transaction to drop in the right "bucket" to figure out our profit for each deal and then I give to my CPA. 

Get 3 estimates, some times they will only  replace to the point of proper old sewer line only that can save money  BIG time   .They will add a clean out  next to the house one out farther where they stopped the new sewer line  replacement .As far as suing  any one on such a manner need to figure out what the legal  cost are plus what  percent chance of success then decide  of you want to roll the dice  unfortunately this type of scam happens a lot now a days .

You can, ofc, record the depreciation once taken so the books are accurate, but it's a lousy tool for figuring out what the depreciation should be (or, providing your accountant with the relevant info so they can do it).What tools is everyone using for this?

You want to break down your preference in regard to sale price, down payment, program, (SFR/MFH), seasoning is important, and the two R's you want to pay most attention to is the Renovate and Refinance.Most investors make the mistake on the renovate or refinance and sometimes both.You also have to figure out if your buying as a Primary or investment because if you buy as a primary you always refinance before you rent. 

An approach you might want to take, is to break down each component of the rehab into its own price per sqft/linear foot/units for both materials and for labor.for example you might find that flooring costs and average of $3.50/sqft labor to install + $3.00/sqft for materials X square feet = cost to refloor+ always add an extra 10% for unforseensSo you would just need to do this for every part of the rehab based on what needs to be done and what level of finish you are going for.keep in mind that some things are measured by sqft, like floor, and others are measured by linear foot, like trim, and some are measured by total area, like drywall and paint, and yet others are measured per each like tubs and toilets.A good place to start with figuring costs is The Book On Estimating Rehab Costs by J.

I don't know your situation; if you have 6 figures in cash reserves and waiting to see what is next, go for it.

@Kathy Creighton-SmithYou need to calculate your Return on Equity and then figure out if you can get a better return investing the money in something else.