Hi all,Just came back from a trip from Knoxville and on the surface it seemed like a great town.

Then I look at the condition of the propertyA = Brand new constructionB = 1975 and newer homes with a FULL renovation (Roof, HVAC, Appliances, All hard-surface floors, Exterior and Interior cosmetic repairs and paint, Hardware replaced, New light fixtures, Fenced in Backyard, and more!)

This was my first time usually vinyl- obviously doesn’t feel the same as a hard wood surface- but shows very well and is great for a rental.

EXPENSESThe only recurring expenses the owners have are about $9,000/yr taxes and insurance, $400/mo in utility bills not paid by tenants, and $250/mo for office cleaning services.VALUE ADD OPPORTUNITIESMy surface analysis is that most, if not all of the rents are below market and could be bumped up 10% or more as part of signing new leases.

OK:http://www.deq.state.ok.us/lpdnew/MethLabs/meth.ht...Seems like you need to air out the property, then maybe close it up and turn off the AC for a few days to get any remaining volatiles to evaporate, then air out again etc. and clean all surfaces and the vents/ductwork.

I'm only starting to scratch the surface on BP but I'm eager to learn.

This is how I know the contractor lied about getting in the attic and walking the roof.Lessons learned:Use trust worthy contractors and make them take pictures of their inspection, if your not sure pay for a quality inspector.Cats can pee really high on walls and love the corners, even attics.Cat urine is harder to get rid of than other urine due to the fact that its molecules are much smaller and are hard to cover up (seal in the smell), the smell molecules will literally pass through water-based kills paint.Products that work really good are Oil based kills and to dissolve urine on hard surfaces, use a product called Anti-Icky-Poo.  

We have renovated (nearly every surface/wall) two homes that we have lived in.  

IF the gross rent numbers are accurate (verify, verify, verify), on the surface after a quick BOE (back-of-envelope) analysis, this deal might have some potential.  

Once that sellers closes and gets your money they are bye,bye.Looks like a pass on it's surface.