@David Grabiner How are maintenance items like landscaping, snow plowing, trash pickup, etc. being handled?

I'll buy lunch or coffee for those in the Phoenix area (hooray free food!). 

Oh, and for some for not-so-good news this property happens to have bed bugs and a putrid smell from animals & rotting food in the fridge.

One incident I will always remember when I was doing an open house, was a little girl coming up to me, and noticing that there wasn’t a refrigerator or stove in the kitchen and asked, “Lady, don’t you have any food?”

Especially with fast-food...while many argue KFC and McDonalds will never go out, what if they do?

@Troy Luster I think he means he is setting aside 7% of gross rents every year, so that they'll build up over time for when big ticket items need replacing.Most investors set aside between 5-10% for ongoing repairs and maintenance, and another 5-10% for capex.

To get a mortgage for a condo, it is contingent on certain items from the HOA (namely finding out the reserves on hand).  

You need to be ready to write a $5-10k check at any time to replace a major capital item (e.g., roof).5) Trash is usually landlord-paid in Atlanta (since it is billed to owners by the tax collector) and is about $500 a year. 

The important item to know if how much the home is worth now.  

Additionally if there is not a guarantee in the lease and other items I mentioned it might be a good time to add them to the lease amendment.What does the tenant get out of it?