I take pictures of damage and forward it with their remaining security deposit in case they forgot how they left the property. 

I feel that if I get the basement finished that I should raise the rent by at least $100, but I want to make sure that I remain fair.  

This becomes less important when you have a wealth of free & clear properties to choose from should the opportunity/situation arise, wherein you can ignore the smaller cash return properties and leverage the more profitable properties so that they remain profitable, but when you are first starting out you don't want to have to dip into your own pocket if something goes wrong because the property won't cash-flow when leveraged. 

In 2015 we may go for another in Athens, if prices remain a good value there.

Of that $110K, $60K is subject to depreciation recapture and the remaining $50K is subject to capital gains.Not a CPA, haven't dealt with this.

Madisonville has been “up and coming” for the last 20 years... mostly because it’s vicinity to some Class A neighborhoods— The commercial district there remains untapped— not saying it’s not ripe for gentrification, but nothing has changed in a good long while. 

What repairs have you done since you owned it,any warranties remaining?

They give you the information you need to know to remain compliant with state law but with the exception of a few (like the ones on appraising), really don't teach you anything more about successful investing.

My house sits where the block clubs remained active through the tough times.

Don't know your state laws and even if I did I can't render advice anyhow (contractually not allowed to give advice all of my legal skill must remain in house).