I have been in the construction industry, mostly residential renovating, so I know how to spot damages, repairs, and/or things that need to be replaced.

Basically, they are abbreviated inspections that focus on the more expensive liabilities that investors are looking for instead of under-caulked windows and damage to drywall.

(Only if you are SERIOUS about real estate as your wealth/career vehicle.)Make sure you join a brokerage that is large, established, and has a reputation for top performance and excellent training.Once you learn the basics and get out into the field to see the state of the market, you'll learn the price points and be able to know a good/great deal when you stumble across it.I have made some of my best (most lucrative) buys from meeting with a seller who wants to list, and when we discussed the price, I knew it fit my parameters, so I bought it! 

Say you have a fire or water damage in the house and you have to file a claim with your homeowners insurance.

However, Peerspace has $100 deductible for qualified damages which is not so great for minor damages, or even some damages that cause around $200-300.

I guess for me the dividing line is does it damage the function or cause a safety hazard if I leave it on the tenant.  

I recommend teaching him basic construction and property inspection (4-point items); 'lipstick on a pig' can kill an investment and reputation faster than anything in this business.Best...

I don't consider someone always late but doesn't damage the house a good tenant; I expect the house to be undamaged PLUS the rent is always paid on time.

Two reputable termite treatment companies have recommended that my townhouse and all the others in our row of 6 townhouses need to be fumigated together.The management company and the HOA board of directors have been aware of the termite infestation in numerous townhouses in the community for some months.

@Dave Harlan They have an amazing product but your better off using a mortgage broker with a great reputation for customer service because they offer wholesale pricing advantages to their brokers and the only complaints I've ever heard about them have come from service issues on the retail side.