The house had several floor joists and trusses in the attic that were cut through in order to run venting and pipes that needed to be shored up, some rotted subflooring that was discovered in the bathroom, some drywall needed to be replaced, the whole house was repainted, added a water softener due to the hard water from the well leading to discoloration of the tub, and upgraded the fixtures to make it look nicer.

Added a lanai, water softener system What was the outcome?

@Tyler Kastelberg  I know you did not ask me this question.. but Bruce commented on that as well here is what he said.that market is stable because of low foreclosures and that to have retraction we would need 30% or so of all properties being listed or sold as short sales or foreclosures or distressed in some manner.so I think he would also opine that stagnation is maybe were its going.Now one of the larger Prop managers who manages my buddies 120 unit here in PDX said some of the new construction multi is being stressed now.. build cost rose and rents are softening .. so the projects are NOT hitting their numbers. ( small % Granted)  I think a little of whats happening in these areas were rents have pushed way up.. is some of those renters may choose to buy.. when our apartments are pushing 2500 a month.. that same person can buy one of my new builds at 430k  and have the same outlay and live in a home twice as big with Parking :)

BTW, I don't think that buying a turnkey property at retail price is a winning strategy, even if it cash flows ... if it doesn't pan out as planned for whatever reason and you need or choose to sell, then it'll cost you ~10% transaction fees to sell it, if the market happens to soften in the meantime (which is a major reason why it may not go as planned), then you have painted yourself into a corner and have run out of profitable exit strategies ... in that case, your only ways out are to bring more cash to the closing table, suck it up and try to ride out the downturn, or let the bank take it back.

The main reason for verifying each applicant is that one of the occupants may be dangerous or otherwise not tenant-worthy.Likewise, you may need to soften your policy in the case of any family member who is incapacitated and under a tenant’s care.

I'm curious to see how much prices soften this winter, and hoping inventory levels increase a bit too.

It seems to be softening a bit, so now would be a good time to exit.

Even if the market softens it will probably be 10-15% and then just keep right on trucking.

It's still below the sales price from 2 years ago and the homestead exemption softens the financial effects of the increase. 

Also, has the rental market softened with the large number of available rentals?