Needless to say the seller didn't want to reduce price or pay almost 150k to replace remaining systems so we cancelled the deal. 

Needless to say, it is not pleasant, hurtful to everyone involved, and just an overall mess.

If you repair any house the right way it will need less repairs, depending on the tenant of course.

IT WAS NOT A RECOMMENDATIONI was merely pointing out that the tax code will allow you to pay more in taxes if you want to.I take responsibility and apologize for making a valueless point and needlessly diverting the conversation, but if you go back and reread my previous posts I think it was pretty clear I was not making a recommendation.Great Googly Moogly.  

Needless to say, that has costs associated with it: salary, employee taxes (SUTA, FUTA, FICA, etc.), benefits, infrastructure, and more.Are you offering to fund the effort?

If I need less, I'm not stealing from my income. 

Needless to say I have a lot of interest in renting but I need to get my cash out of the two houses under construction and create comps for future sales.

I went this route to save more money for the rehab/maintenance needed as well as the fact I would need less money to save up for my 2nd property, because I don't necessarily need to invest in the town I want to live in (cheaper markets nearby). 

Needless to say, the deal did not fit my model, I was not in a position to get it, or the deal was not that good to make me want to line things up.

Needless to say a tenant would be hard pressed to initiate legal action if you have documentation of meter readings.