Also, FSBO properties can be a good source of leads that may require minimal upgrades to increase value, and since these owners do not work with professional representation, it has been statistically shown you will be able to get sizable concessions on price, in addition to leveraging the outdated condition of the property, it may result in a significantly discounted purchase price in the right situation.

A screen door that needs replacing left just sitting on the balcony, a broken light fixture, framed renter instructions that had gotten broken and repaired with duct tape.... just very dumb stuff that I do not want to tolerate when it comes to how guests see my unit.

@Marco Moreno I feel like a bit of a broken record so apologies if you've heard this before but @Heather Hopkins has ahelped a few BP members find properties already.

Sometimes is does not matter what is right or wrong when the process and people are broken.

If it goes to court, what percentage of the time does the landlord prevail in these cases over a broken lease?  

Value of upgrades:When it comes to rental property at what point does upgrading the property (granite countertops, fresh paint, new vanities etc.) pay off with attracting the level of tenant that is going to be good to work with?

I get a report each week from management that shows occupancy, days vacant for all vacant units, move-ins/outs, leases signed and approved, lease renewals, expiring leases, weekly forecasted occupancy for at least six weeks out, reasons for moving out, sources of new tenants, delinquency aging along with collection notes, open payables, cash balances in all accounts, plus a status report on units upgraded and any major issues/projects.

You could always start in a lower cost area and then upgrade to the higher priced areas once you build some equity. 

Conservatively, if we sell our home for what we paid for it, we will probably walk away with maybe 50k (eventhough we upgraded substatially, im being conservative for my discussion).if my wife and myself add another 50k from our savings, we will have a clean 100k down payment and mortgage 300k.

Most of my borrowers are buying pre-60's constructed homes and replacing/upgrading electrical, plumbing, HVAC, flooring, etc.