For example replacing plumbing in a $1,000,000 home costs the same in a $3,000,000 home.Rick’s comment above regarding “handymen” and not pulling permits is going to become an even more serious issue in CA with assembly bill 968 going into effect this July.

Without it you're writing blank checks - what if you have a sewer line issue and they charge you $20k to replace it? 

With this information, you can address issues that might be turning potential tenants away.

The biggest issue that you are going to run into here is that the home was vacant. 

I've seen missing support beams, various issues that builders said they would resolve / never did up until closing, etc.

I've had 2 issues with tenants not paying rent resulting in them leaving and yes they left a mess, but we cleaned it up, got it re-rented (for a lot more money as there are rent caps in place in that area) and moved on.My first rental was accidental-I bought it to live in and moved and converted it into a rental. 

Mostly this hasn’t been an issue, more often than not since I work 3rd shift I end up having to call my handyman about something between 6-7:30am prior to getting off work at 8:00am.

In that case, if the owner is sued he will have that ‘army of lawyers’ working for him, not against him.

*This question is for any property manager or people with prior property management experience*What would you say are the biggest issues that reoccur when dealing with tenants, vendors, etc?

Luckily for us the issue was not huge, but we missed the inspection window before we found that out. 203(K)’s have higher rates than standard loans, so consider the timing of your refinance (especially in todays environment).