Many have grown accustomed to having a completely free showing/screening/leasing service at their disposal and still value using Brokerages at which point many are willing to pay half the fee or the entire fee to get the apartment rented.

Electronics are (unfortunately) just incredibly disposable and easy to upgrade.  

No work needed.Unit #2:Needs some minor repairs - estimates cost is about $1000 to replace a bathroom vanity, hand a curtain, and fix the garbage disposal.

Especially with all of the technology that we have at our disposal these days.  

Is it recommended that I also have a disposal installed?

Tenants in our single family homes pay for yard debris removal unless they choose to hire a landscaping company to remove it as part of their service, or haul it to disposal sites themselves.Note, in our city and county the garbage/recycle/yard debris collection trucks use a device that attaches to the bins and hydraulically lifts them from the street or alley and dumps them into the truck.

Had one issue (garbage disposal stopped working) in 15 months Lessons learned?

When I was earning a lot more than I needed, it was easy to take the risk with disposable money.I want to quickly point out that in order to really take advantage of getting these seemingly tremendously lucky deals, you need two things:1) Recognize the Opportunity and2) Be prepared (usually by having the money for it)When I started working in my professional IT Job, that gave me the preparation part.When I started learning about the financial calculations, especially Future Value, NPV, DCF, etc.

Capitalize on all of the free resources this site has available at your disposal.

Hey Tate, here's what my commercial lender @ US Bank uses for pro forma debt coverage calculations if he doesn't have 2 years and YTD historical data (basically, seller's schedule E's)Vacancy: 10% of gross rents, unless there is sufficient market data at the bank's disposal to justify lower vacancy rates for the type of asset in question, OR detailed historical vacancy data from seller.Management: 3% gross rents or actuals, whichever is higher, with property management agreement provided to close.Cash Reserves: 3% of gross rentsTaxes: Actual data used.Insurance: 3% of gross rents, or as shown by insurance policy.Operating reserve: 20% - 25% depending on the type of asset and amount of historical data provided.