With the help of an Inspection Report of a property you are planning to buy, you get a good idea about the true condition of the property.

I thought I could offer $85K and depending on the inspection see if there would be anything unexpected that may eat away my rehab budget. 

He did most of the negotiation but we leveraged the output of the inspection report to negotiate.

Didn't get an inspection report, big mistake, a lot to renovate.

Based on the inspection report, done within the proper inspection window, the buyer decided not to go forward with the purchase (which is fine).

Then inspect to verify and keep checking up on them.

Moving forward I advise that you still have the property properly inspected during due diligene.

What is your process for inspections throughout construction, final walk-through, and addressing matters that need to be corrected or finalized?

Very responsive, cut checks in a timely manner, have plenty of repair folks on staff to take care of work orders promptly, AND physically inspect all properties bi-annually to ensure tenants are following rules and taking care of property. 

It provides owners with, at minimum, a 30-day buffer in case something goes wrong with your tenant, as well as a reasonable sum to properly make repairs without having to get into potentially unpleasant or drawn-out exchanges with recently departed tenants.Conduct Regular Property VisitsEven when you have a phenomenal tenant occupying your rental property, it is a good idea to conduct regular property inspections.