Many of the items on the list of violations are fairly normal stuff (i.e. light fixtures replaced, new electrical outlets and covers, add GFCI's in wet areas, replace some screens/windows, water heaters).

I am looking at lots of bank owned properties come up for sale in by area. I think my flip market is tough to get top dollar from a remodeled older home, but plenty of people are looking for home to buy but can't o...

If you do this and screen decently you will have reliable payments made to you.

@Bill Gulley I hear ya and thanks.My system is always to have my mortgage broker screen the tenant-buyer to make sure they have a good chance of getting financed in the end and that the deal would hold up as long as the tenant-buyer doesn't do anything to their credit to screw it up.

But you can pre-screen the sellers..

If you do not meet my initial screening requirements you are directed to a denial page .if you make it past the pre screen once the form is submitted another auto email goes out that goes over my screening requirements again and also directs them to my online scheduler where they pick 3 days and or times that work for their schedule.  

Each unit is around 1000sqft and has a screened porch and a separate stairs to the backyard. 3 units have been rented for $1000/Mo and one unit has been rented for $1100/Mo.

If you buy them right you can always weather even the large cap ex items and still cashflow as long as you are also run a tight ship with your rentals.Oh, and unit turnover often hurts your cashflow so download and read the utilimate guide to tenant screening from BP. 

During our tenant screening, I give a very specific answer when a prospect tells me they have a service animal (or emotional support animal or other another label).

The above screen shot is just a Table of Contents for the actual data for this particular property.When you setup your rental property in QuickBooks in the Fixed Asset Feature, this form will appear and you will fill it out.