@James Landsford That punch list is a lot of work that won't necessarily help with you increasing rents over time.

Hey all, first time landlord with ~3 months experience here.I brought a tenant in 3 months ago with an insurance company paying the rent (tenant's house is being repaired after a fire).

I am currently living in one of the units and renting the other one.

I previously owned a long-term rental that I bought from a parent and rented to family for over three years (lesson learned!).

There are really great REI opportunities in different markets - markets in the Midwest and Southeast of the country are particularly lucrative - where not only are the purchase prices reasonable for most RE investors, but the homes are turnkey (new builds or completely rehabbed homes, tenant ready, systems 10 years of life remaining on them, property management teams in place) with appreciating home value AND appreciating rent.

Rented for about $1250/month at the time. 

The fact you brought this up on this board with this situation tells me that you are fairly new to renting by the room.  

And never let friends or family rent from you. 

From there we identify properties that could have some potential and if you are interesting in diving deeper, 1) we do a thorough video walkthrough to give you a realistic look of the property, 2) we give a ballpark estimate of rehab costs (we do 40 a year with our GCs o we will get pretty close), 3) we talk through market rent with our property management team, ARV, and potential highest and best use.Ideally you find great investor agents who know their market really well and have a network of resources to provide you with enough confidence to take reasonable action. 

Tenant just moved in and is asking to delay rent payment until next month, looking for the 10 day move out form