If you took a conservative estimate of 40-50% of that amount and used it before reducing it further given the answers to the questions about condition of the room and equipment and whether or not a third party handles the income and machines, then you would have an decent and conservative number to work with.

An electrician would follow NEC and so should you:Sec. 210-7(d)(3) permits any of the following installations when replacing a 2-wire ungrounded receptacle:(a) Replace it with another 2-wire receptacle;(b) Replace it with a GFCI-type receptacle and mark the receptacle with the words “No Equipment Ground;” or(c) Replace it with a grounding-type receptacle protected by a GFCI device (circuit breaker or receptacle).

They will now pay salaries to the workers, expenses to suppliers, investments in construction equipment and profits to the owners, who hopefully in turn spend it on something, so additional money is flowing through the system, which the system experiences as an economic boost.

Even though I'm not relying on the occupants credit score, I do want to verify their criminal background, their identity, etc.

I watch the other flippers in my market and it seems like fridges and washer/dryers are not always standard equipment. 

No FL tax return......only if you have business "equipment"....you don't.  

There are services like smartmove where the tenant has to login and complete the transaction by being asked identity questions, but most of my prospective tenants thought these system were annoying because it was so many extra steps for them and they had to have internet access to complete it.  

As an example, if a tenant has narrowed their choices down between 2 rentals that are identical (price, features, commute time, etc.), but one is within city limits (3% wage tax) and the other is outside city limits (1% wage tax) - more times than not they would select the property in the location that had the lower wage tax. 

The lady who got sued said she believes a co-worker stole her identity and rented the place. 

@Jeremy Pace: Thank you for that tip on the heating equipment.