Basically completed just needed some clean up from construction, so to be expected. 

Income Late fee Gross rent Expenses Advertising Cleaning Gardening/lawn mowing Insurance Interest on loan(s) property tax Legal expenses Pest control Property agent fees/commission Repairs and maintenance Water charges Electric Bill Total expenses Net rental income or (loss)

@Kristin Boekhoff to add to the great input from @Jason Taken:1) To save money, you really want to clean as little as possible.

Another consideration, @Jay Hinrichs, is whether the electrical infrastructure at the property can handle it. 

I just recently took one apart trying to get into every possible nook and cranny to clean it and it was GROSS.

Makes an amazing shot of espresso, and pretty much idiot proof so long as you have your cleaner stay on top of the cleaning and maintenance.

Was able to purchase and clean up, but probably would have avoided the property entirely to avoid the headache and extra expenses.

The only people that are going to tell you you're going to clean up are PMs and RE agents.

The GFC unfortunately hit all of us lenders pretty hard and I had a concentration in Jackson and ATL and Memphis so I had to move to Jackson for a year to clean up my portfolio I thought I was going to be there for maybe a few weeks but that turned out to be a year and I got very fortunate I was able to rent the developers house at Reunion .

Here's what I've learned:Inspections Are Non-Negotiable: Always get a full inspection, but don’t stop there.Plumbing & Sewer: Have the plumbing and sewer systems checked specifically, as these are common problem areas in older homes.Electrical System: If the inspector flags any electrical concerns, bring in an electrician during the inspection phase for a detailed evaluation.