I agreed not to show it any more.Finally, he left, had the place cleaned and painted in a week, had a open house, and rented in a day.

It isn't as clean and sometimes you get stuck with some money in the deal still from your HELOC.

After inspection, I told her that I could only offer $1k due to property condition, but she would no longer have to pay the taxes or any of the expenses of maintaining the property and I would handle cleaning out the property.How did you finance this deal?

We cleaned up the property with updated paint, appliances, fixtures, flooring, and landscaping.

2) We'd like to sell our current condo, but with two kids it requires a deep clean and a good paining.

I would also put very strict rules regarding how many and what type of pet(s) allowed, that they cannot be a nuisance to neighbors (no leaving outside, barking, etc), and put something very solid saying that a pet cleaning and deodorizing charge will be taken out of deposit when they leave.... think of anything/everything and put in the lease!

@Mike Imbriglio the lien is for all intents and purposes going to be added to your purchase price, because it is unlikely the seller has the money to pay it off and you can't get clean title without paying off the lien, (that is what its intention was). 

Apartments are fully furnished, you pay all the bills, in many cases you provide cleaning and transportation services.Turnover is constantYou are managing a community on top of managing a propertyCash flow can be a lot better than compared to a traditional rental

Of course I know it’s there, the inspector wasn’t worried and advised me to clean it with bleach as it was dry, so it must have been from some older, but since fixed water damage from the 2nd floor unit.

This is also the first property where I assembled a small team to help with cleaning, repairs, and snow removal.