@Joe Villeneuve  in the great GFC  mass foreclosures were a result of tenants not paying in many markets... and under capitalized and underwater owners.. defaulted with many ruining their credit for years because they did not realize that they needed substantial reserves to handle vacant properties... then you add in the areas were vacant properties get trashed and stripped then there was no hope for the owners.If you look at most homes that you buy today.. at least 50% of them are failed landlords that walked... this is true all through the mid west.So one needs to not just think that if there is a melt down again everyone becomes renters this did not play out that way last time... many left the area  ( think PhX Vegas) Many ended up moving in with family... 

Try a whole house air exchanger, they pull air out while bringing in fresh air. the one i linked to i have used in one of my units to meet the building code for fresh air, this one can handle a 2,000 sq' home. this may help and only costs a few hundred dollars.

I know here in Orange County when agents list land, many times they are residential agents and don't have a clue as to what it takes to actually bring the parcel to the point of being able to build, therefore; price it at the price of a lot ready to go. if a developer has to go in and do $150,000 (sometimes more) on dirt work, etc. the project has to be able to handle it. 

Which may be frustrating because their system is more set up to handle people's names being impersonated rather than phone numbers, but there is a form for people without Facebook accounts to fill out in such a situation. 

It will help you get a handle on some of the things you want to make sure you take into account when analyzing a deal like capital expenditures, vacancy and property management. 

Right now I am hiring my father as a handy man, so in order for me to deduct those expenses do I need to have an LLC and a spearate account for handling those transactions?

I've estimated $5k (conservatively), but I can handle a bit more than that if I need to.

I have a 3rd party PM in place that handles most PM related issues, but there are always units that need rehabbed when they become vacant, etc.

Also, when you do find an investor who will go in a a particular deal, what is a general rule of thumb for handling the actual "cash"?

He has been a great tenant and very rarely calls for anything, so I want to do the right thing, just don't know what that is...Please let me know if anyone has had this type of situation and let me know how you handled it.