Wendell has gone completely dark.. money loss around the corner.. and we talked about how just being on BP and sounding like you know what your doing simply does not give someone a pass.. you need to do due diligence..

My PM's contractor gave us an estimate of things to be repaired and it includes things like $50 for replacing smoke detector batteries, $50 for repairing shower handle, $60 for caulking tub, $200 for changing locks.

Claude after dark.

Like others have said, you will get bad tenants in this business who require evictions, trash the place, smoke meth, etc. 

There's just one problem: the MLS listing says the owners smoke in the house.This property has been on and off the market for about 18 months and I sense that it could be had at a bargain price.

Not "Do you smoke?"

You happen to get to see a property before the inspection phase, and maybe have good contacts with smoke/fire remediation companies. 

Thank you, we try to use dark laminates and light grey in all of our rentals.

if end product is 130 to 150k I would say lot will sell for about 15k  and MAYBE 20k if it requires little to no work.. also see if there was a home there and if the utls hookup fee's are all paid that makes a difference in many markets.. if not and there has to be fresh water and sewer taps etc.. this could drive price up.. but then again some cities pay for those some the developer does.. so you can see unless you going into the building department and get these questions answered your somewhat shooting in the dark. 

Want to smoke in your own home, you go right ahead.