In any case, would that be a deterrent in your decision and if not, what is the success rate or could you provide any success or failure stories or tips on how to raise the rental value of a property you acquired which involved taking over the leases of current tenants at lower than valued rental prices?

Is a visual inspection, unless required a more intrusive inspection which will be something specialized after your initial inspection, and will be done from a specialized inspector. 

You have to see past the cabinets and sheetrock and visualize what problems you may encounter in the walls or floors.

This is not necessarily meant to be a deterrent but just a realistic lense so you can set up your expectations correctly. 

I did this for the rental we are closing on this week - mostly so I could visualize it myself but I figure if we start to show the property early, we could share it with prospective tenants or have print outs in each of the rooms for people to see.

And here's why:  "While a property can still be sold while there is a lis pendens, title companies will not insure the property, and that alone should be a deterrent to purchasing."  

It includes all major assets & liabs, inc some pers prop that has value (or is individually insured) & I would consider selling to fund new found opportunities or if there was a major emergency requiring a change in budgeting/liquidity.My PBS is currently three pages long, broken into sections w/ sub totals to assist in analysis:AssetsReal Prop (Assessed, Purchase/Rent data, 2-3 free online providers like Redfin, then averaged.)Personal Property (Cars, Art, Hard Assets, things not in an account or "foggy" daily market value)Cash Accounts (ie funds w/ access not limited by age, Banks, Brokerages, CVLI, prepaid taxes,large pending incomes like insurance settlements & reimbursements owed to me.)MineSpouseCo-AccountsRetirement Accounts (or anything where access to the value is age restricted)MineSpouseBusiness 1 (Net number carried over from separate business records)Business 2 (List as needed)Liabilities (Would section these out too if I had enough to justify it)Listed in order of assets above if tied to such, mortgages, HELOC, etc.General liabilities listed next, largest to smallest.Net Worth CalculationThen I include several lines of totals; subtotal of amount available for conversion to REI, ratios & simple measures like mo / mo & trailing 12 mo avg % & $ return.My FI goal is over the long term to average at least 1% mo / mo gain in net worth.I have found this to be best for me for several reasons:I have a hard time visualizing a set $ amount as a goal because my amount required to retire would then seem too big to tackle.

Lighting is a crime deterrent.

Ie. monthly visual assesments of the properties, helping with property turn over, helping find the best contractor for a job.

Only downside ... most of these types of products are incredibly expensive (I would obviously account for the cost when calculating cash flow)This would be a visual example of what I am talking about...This is from a fenestration company located here in Phoenix.