I am more concerned about the overall health of the city the school is in.12 month leases. 

i've lived in different parts of CAN & the US and feel like i can say that :)Terence you were inviting thoughts about why the increase in airbnbs, given all the new construction and relatively low job growth?

In one of my properties the tenant left a trash can outside before 12:00, this was  considered a health violation which is also a misdemeanor.

If happiness was only weather related, everyone would live in Hawaii.

Damage, to replace vinyl etc, is likely to be relatively small of 200-300 dollars.Would you fix it, and then keep the evidence to take out of their security deposit when they choose to move out, or would you confront them with the evidence, and post a bill for the amount of the work?

As mentioned previously, all expenses directly related to a specific property to include mortgage interest and depreciation are taken on Schedule E for that property. 

The home inspection revealed probably about 6-8000 of total repairs that need to be done but very few related to the requirements for the C of O.

My suggestion is to look for property in relatively good condition where you can get it rented right away." 

Aaron McCarty if you look at the formulas/metrics in isolation then the numbers don’t mean much.The formulas/numbers is all relative, especially as everyone/business has different goals and risk tolerance.Compare the results to the alternative, example: compare the historical stock market return on blue chips to an A class area.

All of this is pretty darn relative.