We return the deposit within a few days of the tenant vacating because the place is usually spotless. 

If you want to buy a TLC and do some renovations most of those states hold enough equity to buy, renovate and pull cash out in as little as 6-8 months.Heloc's are very tough to get on an investment property and you usually will only get a 60-65% Max CLTV.

In general usually between 10-12% for rate and 2-3 points.Having the property rented does open up options on the refinance.

When you list a property for sale you usually don't care who buys it - just give me top dollar.  

Once we start talking about bigger pieces of land that that woulud appear to developers (i.e. homebuilders or developers who do self storage, medical office, industrial, retail/commercial) then I usually can market to them without necessarily having to put on the market, because I know who the players are in SoCal, and that helps especially when seller doesn't want to do an exclusive listing, but will let you bring offers off market.But in general, for random pieces of land that aren't necessarily for the big developers/builders, you certainly need to put it on the market. 

It also usually comes with the bonus of lowering their monthly expenses over what they were paying in rent, but immediate cash flow is not always possible given the purchase prices in the areas most of my clients want to buy.

As of this writing, 20 states and 106 localities have passed bans on discriminating against source of income (usually, but not limited to, Section 8) as well as a myriad of other restrictions.What Happened in Kansas CityKansas City, where I live, was the most recent to pass what its advocates call “the strongest source of income discrimination ban in the country.”

How much do you usually make an offer below the listed price?

Some of those being sales tactics, MLS access, network for investing, market data, insider industry partner networking, obviously extra income to supplement your USAF income, helping fellow vets/servicemembers and any buyers/sellers at that, and not having to pay an agent when you are accumulating properties as well. 

@Chris Lo not an issue unless deteriorating, which potential exposes people to the fibers and is thus a health hazard.Even then, all you have to do is properly encapsulate it, usually with paint and then put siding over it.What cities are you looking in?