The holding cost is comprised of the interest payment plus taxes, insurance and utilities you need to pay while holding onto the property before you can re-sell it.If your credit is 720 and above, you can get a BLOC (Business line of credit) to fund the remaining 10% + points+ closing cost + holding cost.

A little move in basket with some of the following :  assorted felt furniture protectors for the wood floor, a sponge, cleaner for a glass top stove if there is one, a small bottle of hand soap,  a couple of packets of dishwasher detergent, maybe a dishtowel, and a roll of paper towels,  windex or such. 

Unrelated, they also used soap in our hot tub requiring extensive cleaning.

pumping a tank should always be on the shoulders of landlord / property management and priced in with the cost of rent also you should make a note that tenants are NOT to use bleach and or antibacterial soaps as these products will kill the bacteria in the tank and cause a lot of problems down the road also it is a good idea to add  a bacteria of some sort to keep it working properly you can buy the over the counter stuff or just add some yeast mixed with water once a year or so I use bakers yeast every three to four years  

I have some rentals that still have 1970s wood paneling, and I love it because when someone moves out I can simply wipe it down with Murphy’s Oil soap and I’m done.

With only 2% estimated at expenses, I'd be curious what comprised your $66.5k improvement budget. 

Grab a pump up sprayer and a 50/50 solution of water and bleach , add some soap to make it stick .

Based on the price and what it tells me about the type of area it's in, I would double check that rental figure as well.The lower down the property ladder you go, the less it matters how turnkey the place is - remember that the tenant pool in 'rough areas' is comprised 100% of people who simply can't afford to live elsewhere, which means you're looking at a higher-risk investment.

You still have several options, depending on if you want to invest directly in individual properties or be a bit more removed:Full-service turnkey investment: Should be mostly passive after you do your due diligence and pick a provider, but don't skimp on your homeworkYou choose which props to purchase, but have no control over tenanting choices, some say in large maintenance expensesAvg cost for solid B/B+ prop in Birmingham (and some other markets but this is the one I have data for, since it's my market) is about $100k per door; you'll pay market price for a tenant-ready, fully rehabbed propertyPartnering with someone who does the on-the-ground stuff while you provide capitalCan be passive if your partner really knows their stuff, but more likely you'd be fairly involved with the choices madeMore control since you call the shots with your partnerYou can pick which markets and price points you're interested inPotential for higher returns (ie buying distressed and then forcing equity through renovation) if your partner is experienced and can execute consistentlyInvesting in a syndicateMany investors pool funds to invest in much bigger projects like commercial space or large MFRs, or in larger portfoliosVery passive, investors are not responsible for project vetting or management, but you have no controlMay have higher bar for entry, some syndicates require large investments and you'll need to have liquid cash on handBuying shares in a REITLike an ETF but comprised of real estate investmentsVery passive, but no control over which assets are held in the fundHighly liquid, easy to buy and trade, lower bar for entryEverything is a trade-off between passivity and control, time and money.

I am active duty myself and my team is comprised of veterans.