If you find the post it can be reported.

I would begin by reporting the property to the municipality.

Assuming you own them under your own name, your accounting should be the same thing - the only difference being they are going to be reported directly on your return as opposed to doing a return for an llc and then having the bottom line number (i.e. profit or loss) flow through to your personal return.You can write off depreciation, mortgage interest, property taxes, repairs, etc.

Keep an eye on the inspector's report.

However, when the appraiser, whom BofA hired, came to my house, he submitted the report to my Lending Officer at BofA that I needed to re-paint and fix some of the damages on the exterior of my house before I could qualify for the loan. 

It indicates to me that the applicant has a history of making late payments or stiffing a creditor.If the property is not generating a lot of applications, I would definitely have the applicant address the 600 credit score, review credit reports to what has been going on and see if there has been any improvement in payment pattern.

I am going to self manage & I have a couple other quick questions :I would like to set up for my tenants to only be able to pay their rent online, which website do you recommend for easy of use, efficiency for tax reporting & is the best for the cost of use?

If you want to get fancy you can hook them up to your internet and they automatically generate monthly usage reports.

There is some slight wood rot as you can see in the pictures below that are from the buyers inspection report. 

What I would like to do is flag his credit report in some way to give a heads up to the next landlord out there.