I will come back here and periodically give you all an update on how I'm doing each week.Here is a brief summary of what I gathered from the walk-through (applies to both units unless specified):Get paint inspected for lead on the exterior, Repurpose hardwood floors, Replace all windows then board them up, Replace back door (unit 1), Full rehab in bathroom, Fix electrical panel in kitchen, Gut all walls and floor in kitchen down to the studs (unit 2), Repair hole in bedroom ceiling (unit 2), Add appliances and countertops, Replace hot water heaters, Rewire outlets, Add air conditioning unit, Fix plumbing in kitchen and bathroom, Paint entire house inside/out, Work on Landscape in the back, clean roof and gutters, add down spouts for gutters, add gas meters, and gut and redo the small balcony off the kitchen.I would appreciate it very much if you seasoned investors will give me your input, suggestions/advice, and comments.

If its plugs into a 110 volt outlet, its just a space heater.

I saw some of the hokiest tests you could imagine-chinese wall sniffing dogs,checking copper wires on switches/outlets etc.

Windows - Needs all new windows (I wasn't quite sure how to count them, since some are side by side, some are smaller, and some are 3 panel...I counted 25 not including the middle portion of the 3 large pane windows) $6000Foundation - Looked okayLandscaping - Remove trees and shrubs, tear down and remove shed, bring in landscaping rocks, power-wash sidewalks and driveway, remove fence in front and back, put new fence in back, new mailbox, plant new shrubs/flowers for curb appeal. ($3000)Exterior - New exterior and screen doors ($1000) Change exterior light fixtures, new shutters ($400)Interior paint/carpentry - Remove all wood paneling and add/replace sheetrock where necessary.

For managing rehabs for other investors, he gets 50% of income.For other jobs he helps with where we generate income (like helping my wife stage another investor's property), we'll generally give him a small percentage of the profit off that job.And then we generally give a bonus at the end of the year if we exceed our profit goals.I should also add that he saves us some money on some simple handyman type stuff, as he will do things like put up mini-blinds, replace outlets/switches, do minor punch list work, etc, while he is on-site.

Habitat for humanity, staging / decorating : home-decorators outlet online 80% discount tier. http://www.homedecorators.com/Price_Cuts/5000%25/ High end furniture or specialty shops ask them to call you with damaged stock.

Like regular outlets and switches they go bad or are defective sometimes.

A similar property as mine (same model) was just purchased by investors and rented out within weeks.The house is in move in condition except for 2 electrical outlets don't work.

I think if the inspector found even one ungrounded outlet, he might have asked for upgrades on the outlets.

Now, take these following comments with a grain of salt...They are putting the US's biggest Ferris wheel along with 350,000sf of outlet mall space in St George to finish in 2016.