You need to set aside an amount to cover future major repair/replacement.  

So I was able to get someone to meet the tenant at the property for the keys and to basically do a quick walk through to makes sure there was nothing major going on or left behind.In my state, TN, apparently, if the tenant is present for the final walk through then the landlord has to give the tenant right there on the spot a list of damages that would count against their deposit. 

FayServicing says to email their department (reo at fayservicing dot com) (weird, I know.

This location is on the edge of the town, but within reasonable driving distance and has a university bus stop.I do not know why there were $15000 in maintenance last year, but i will find out.I have some major reservations since there are a few uncertainties about this one, but I was hoping to get the opinions of more experienced investors.What concerns should i be aware of?

From the seller, definitely get history, insurance, tax info, any planned special assessments, major repairs, any warranties (foundation, waterproofing, roofing, etc), a copy of all leases to review as part of a formal accepted offer, etc. 

Hello my name is Ray, I work for a fire department in Southern California but would like to start investing in real estate. 

Account Closed Pick a higher paying major (engineering, accounting, finance), pick a niche then pick a sub-niche, learn everything about that sub-niche, network like crazy - by attending your local REIA and other investor meetings and keep marketing yourself.

In college I majored in Computer Science which is the field I now work in.Career, family and financial security were always my top priority and there was not a lot of talk about REI back then... so fixing and flipping remained just a dream.

I am filling out paperwork, establishing timelines, logging calls, texts and emails for the specific chargeback department to get the rest of my money back.

So I am preparing to started a business in wholesaling, yay me :), and one of the major components I have been tinkering with is how to ensure what I have on my hands is an actual deal.