I have not yet begun bird dogging, but have an experienced investor ready to show me the way as a part time gig (I currently work full time in the lighting industry).

I would separate appliances, furnishings, landscape improvements, etc because these all have different class lives.

I ended up not going with the cheapest bid because the next higher bidder included repairing most of the landscaping and yard.

Every deal is different...I have had a pretty bad one myself.I will stick with landlording, light rehabs and a few REITs to keep my RE invesment portfolio empire going...I enjoy collecting checks every month and being in complete control of all my property without question from any "partners".

I saw an investigation on this very topic which depicted the "Rich Dad Training" sessions in a negative light.

Scan newspaper ads and pick the ones you'll call at first light.

What you can do depends on your particular market, but consider a few f'rinstances: Improve building security, improve outside lighting, give common areas a facelift, upgrade appliances, give away wireless internet service to all the tenants, etc.

Being a business owner and having some cash will put you light years ahead of other new investors.

The condo looks well lighted and ventilated. do i have to worry about pests?

Yes - don't forget about the little things....carrying costs - which is not just the mortgage, but also heat and electric...closing costs (always more than you expect them to be)...minor things that add up...ie - mulch in the yard,new smoke detectors, light fixtures, dump runs, whatever.