Additionally, we have to hand deliver or send the deposit back via certified mail within 30 days of the end of tenancy, along with an itemized list of any deductions.Again, not sure of the laws in Ga, but make sure you don't get hung out to dry because you missed out on one of these little loopholes.

According to analysis by Ben Leybovich you should calculate about $150 - $170 per unit per month for capital expenditures over time (boilers, water heaters, flooring, roofing, siding, etc, etc) for buy & hold properties.If your $600 is missing some of those items you might be in trouble.Hopefully, you've used the BP analysis tools (free!)

It seems like every 2-3 years you have to re-evaluate what works and what doesn't work and change your business model.  

I then detail each job (flooring, cabinets, bathroom, etc) and each gets a line item cost for both labor and materials. 

After 18 months, the mail is returned with the reason it couldn’t be delivered, for no charge.Change Service Requested - You’ll be notified of the recipient’s new address or the reason the item couldn’t be delivered, and charged an address correction fee.

Remember that FHA mortgages have very stringent requirements for condition of the property, and its possible the current owner has gone through the inspection process and found that the property is lacking in certain areas, perhaps in items that the owner is unwilling to remedy prior to sale.Last note: you wrote that the owner specified it would NOT be able to be an owner-occupied purchase... was the property fully rented with leases in place?

So with all this talk about cap ex I was wondering what you thought about using wear resistant materials in rehabs. my business model is to by extremely distressed and do full rehabs.

From all my reading/listening to the BP podcast/your guidance above/my own common sense, the biggest item boils down to making sure something is in writing, and I fully intend to make sure all ducks are in a row and written down as a landlord!

I had a 2 page detail on dealing with my seller and getting all the needed items in usually prior to even making the offer.  

I'm hoping some can share or tell us from your experience any items that are crucial to include on the following:List for tenants departing,  check list for cleaning etc.Walk through check list new tenant.Hand out to educate new renters for what is expected, rent payments to be sent/deposited to: (new owner).