You would be looking for signs of leaks...everywhere, including ceilings, floors, walls, under sinks, behind toilets, under/behind appliances; check condition of tub/shower caulking/grout; visually check appliance door gaskets and overall condition, ASK if they are working properly.

There are residential lenders that do 16 properties (National Bank) or 10 properties (CIBC) so although it gets more and more difficult as you grow the ceiling is pretty high, and by the time you get to this size of a portfolio other options open up such as commercial blanket mortgages

We utilize a form that has a room by room checklist with all primary elements (walls, floor, ceiling, windows and screens, light fixtures, tub, toilet, towel bars medicine cabinet/mirror, ac WITH remote, etc); a "move in" column and a "move out" column with room for basic notations for each element, which simplifies the documentation and decision making; and Tenants sign at move in walk through inspection, and, if present, also at move out inspection.Check local LL/Tenant laws, but unless you have provided a "standard" list of potential move out charges as part of your initial Rental Agreement, most Courts will require a third party invoice or estimate for deductions from SD.

Scraped popcorn ceilings, sprayed and painted the new knockdown texture, new electrical outlets everywhere, added Alumiconns to all electrical because of aluminum wiring, Found Offerup deals on fans/furniture, LED light fixtures everywhere, Patched drywall in every room in the house, sprayed new orange peel texture, painted every wall, new water valves in the house, new kitchen sink, new dishwasher, new real wood vanities in both baths, new granite countertops with new sinks and faucets, new ba What was the outcome?

It seems like you're just referring to adding an egress well, but if you intend to actually dig the cellar floor out to create higher ceilings, PLEASE READ.  

To tell which might be true go back 2 months and see if the ratios are the same.2 - This could also be telling you that your ceiling is just under $200k.  

This is in San Francisco so not sure how SoCal estimates would be: Hauling away 3 truck loads of debris:  $4000 Demolition: $6240Plumbing: $22,029Electrical $47,558 (all throughout the house including new panel, it had old knob and tube wiring)Sheetrock: $16,700Tiling: $22,600 (including kitchen backsplash and tile floors in kitchen and 3 bathrooms)Interior Paint $19,200 (smoothed out textured walls and paint all rooms) Insulation: $4890 (exterior walls, 1st and 2nd floors on exposed ceilings and walls and bathrooms for noise barrier)New baseboards and trim casing $1360Flooring $11,000 (new flooring in hallway and kitchen, refinish existing hardwood floors in other rooms)I hope this gives you some ballpark numbers to give you some ideas.

The exterior could definitely use some improvement, the windows are old and ugly, theres popcorn on the ceiling.

@Corey Conklin I had a couple who swore they were smoking outside but after we took over the property until they moved out 2.5 months we never saw them outside smoking once nor did the other tenants report seeing them outside smoking and clearly the unit smelled of smoke and we had to replace the ceiling tiles, repaint, and replace the flooring.

I also think rent as a % of income is starting to reach a ceiling in many, but not all, neighborhoods.On the property management front, I'm with you.