Preapprovals generally are a benefit as they give you an idea of your buying power and strengthens your offer when pitted against other buyers (as Richard alluded to above). 

So if you have gas and a tenant has electric it is known upfront, before they move in and if the tenant wants a different hook up the cost would be theirs. 

We installed new windows, siding, roof, new kitchen and baths, new electrical, plumbing, boiler, insulation, drywall etc.

Lumber, concrete, electrical, appliances, HVAC, etc.

Usually roof, electrical, foundation or plumbing related.

We ended up all of the work apart from electrical, plumbing, and window replacement.

On the exterior, removed all the overgrown bushes from the front and back, cut 2 small trees in front, planted some sod, power wash exterior of the house, and added mulch and solar lights.

Hi @Lance Bradley, leverage is a tool indeed, and like all tools they can powerful when used correctly and dangerous when used incorrectly.You can certainly do "more" with leverage than without it, and cash is "cheap" right now, but I'd caution you against running headlong into a situation that many run into on this line of logic.  

@Patrick Knapp Was your mama the inventor of electricity?

Purchase price: $505,000 Cash invested: $125,000 Sale price: $550,000 Performed the following renovations:-Roof replacement-Converted doorway into an open archway-Kitchen replacement including flooring and moving and running water lines-Converted window into a patio door with patio steps-Lighting & electrical panel and fixtures-Painting exterior / interior-New Gutters-Carpentry-Landscaping