It depends on your financial strength, the quality of the property, how many properties you own, etc.I like to start with one significant expense and three months of vacancy.

Typically the quality of applicants in the winter months drops substantially as well. 

Also, where can I buy low cost blinds that are decent quality? 

Perhaps try a better quality paint to start with and lessen this issue.

Review the quality of the tenant base (do they have a history of paying on time, what were the original screening criteria, do they have applications on file).

@Venecia BaezRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

I’ve had to rent in the offseason before and have gotten quality applicants but it does take longer. 

In my experience, Section 8 tenants are low-quality.

For someone that's not as conservative, or a different view on the cycle, they might have a different opinion than me on all of this.2) Sponsor quality check: (takes about 45 minutes per deal)I believe that a great sponsor can take an average looking deal and make it great, and that in mediocre sponsor can take a fantastic looking deal and make it bad (especially if there is a severe recession).

Experienced investor looking for new (quality) direct skip and cold calling companies