Build a local team for cleaning and repairs to streamline operations.

If you can maximize all 3, then you've also created a very wide lead funnel, which is less common in multifamily properties.Maximizing "pets" means you're removing carpet, allowing at least 2 pets including cats and larger dogs > 50 lbs, access to a fully fenced-in yard or walking distance to a dog park, leniency on breed restrictions (depends on insurance, your risk tolerance, due diligence with pets during inquiry phase), pet friendly furniture (e.g. faux leather couch, low pile rugs if at all), etc.

Need a lender who understands that clean title will only occur on the day of closing.

This is the renovation criteria I use in order to make sure the place is clean, safe and actually ready to rent. https://docs.google.com/document/d/1MreMNvXxPZy7AaqMGMFPVunQ... 

Keep it simple, paint and carpet, buy a good house in a quality area.

It'll need some trim and paint on the inside as well as some cleaning and minor touch-up, so I wouldn't consider it far off from being rent ready.I am interviewing property managers now and trying to ask all the right questions.Thank you for sending over those articles.

Cleaned up house but didn't have to do much.

Include the finish selections as well so they understand what is being installed (Carpet is cheaper than hardwood and if you install hardwood herringbone thats even more expensive).Then you have the general terms as part of the contract which are insurance requiremens, licensing, schedule, indemnifications, lien waivers, case of default. 

We fixed everything in the first 3-5 weeks, plus paint, carpet, landscaping, then rented it out.

We did some paint, carpet and light fixtures - and let the market appreciation do the heavy lifting.