I mark the applications down as they come in to keep track of the order in which people applied, and they have to follow up with employment verification, background check, references as well so I can tell who is the most qualified and serious applicant pretty easily. 

Or you have the one that gets too excited too easily and just shoots. 

The quality of work on prefab is not great, but easily sufficient for rentals.  

This can easily be obtained by spending it on materials you will be buying regardless.

I think if I furnish it I should easily get the same $2500 or more

.- You could also try selling to another naive investor, but you don't have the infrastructure to do so easily. 2) You'll need to evict the tenant if you haven't already.3) Have 2-3 agents tour the property and take videos of their recommendations of repairs.4) Review all of these to create consensus Scope Of Work (SOW). 5) Get 2-4 bids on the SOW6) Review bids to determine cost effectiveness of what to actually do.

Once you have multiple crews going at once, labor costs can get out of hand very easily.

You should be easily get a feel for the median price.

Or maybe they do now since the last time I used it.Overall, I think it’s an excellent solution for smaller portfolios because you can easily spot any discrepancies.

Normally, it's offered to the other partners first and they can either both buy it to equalize the partnership or maybe one can buy it to take percentage ownership.I think you could handle this through a real estate attorney easily.