:David Faulkner nailed it!

Everyone hit the nail on the head with their responses.

I think it's the future and I'm 90% sure we are rolling it out this summer, just nailing down the specifics. 

., Pretty much hit the nail on the head here.

This may not seem like a big deal, but it is something that you will need to nail down and factor into your analysis.

Also, put any repairs pointed out by the inspector into the following categories (by priority)1) Health & Safety - to avoid tenant injury and potential lawsuits2) Property Preservation - to stop further costlier damages3) Government Required - city inspection repairs & S84) Marketing Negative Impact - who'll rent a house with purple bedrooms?

There were some great places like a nice 4/3 on a corner lot, overlooking some preserve land.

The realization that I came to is that it was well worth my time and effort to learn the inns and outs of the real estate transaction in order to preserve that equity to be put to use elsewhere. $12K passively invested in the S&P (literally just buy the index and do nothing else) yields an 11% annual historical return.

Sounds like you were able to really nail the buy which allowed you to run a successful rehab and recoup all of your initial investment. 

@Melissa Wongkamalasai@John Warren hit the nail on the head.