Include in your model rates going up by 2%, and just make sure you enough cash to cover. 

Most, if not all screening tools do not include a comprehensive rental screening with a renters prior rental rating like Mayistay. 

Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

Quote from @Brandon Croucier: Quote from @Chris Seveney: They are more than a one man show - they are doing $10-12MM a year in lending (also have other parts of business) and have the people and systems in place includin g all above except the deal flow.How does one profitably run a PML company with numerous people only funding 10-12M a year?

Just say no.I would almost never do this trade unless all my downside, including potential unknowns, were completely compensated for. 

Quote from @Owen Rosen: Quote from @Rod Hanks: It’s a good idea to have the insurance policy include both the tenant’s name and yours as additional insured.

THE VISION: With 130 units and 8 buildings plus a wedding and event venue, our vision includes revamping this space into a dream hotel.

Lots of folks come up from Ventura County, including many who responded to your post. 

You should be able to do a pretty decent update with $50k (purchase price not included).

@Nate Pucel The depreciation basis for a rental property includes the purchase price plus the cost of renovations and improvements that add value or extend the property's life.