We took pictures / videos of the property and there is some mold on the drywall in the garage from a previous water heater leak.

As a general contractor, I do work for HOA management companies and when there is a roof leak, the HOA covers the cost of the roof and cost of drywall damage inside, but they do NOT include/cover paint so keep in mind that when things go wrong, you may have to cover some items.

Thank you,Assuming the % rent increase is legal in the area you are investing in, raising the rent 500 to 900 dollars will make any tenant run and 100% will piss them off.Not having the ability to take a hit makes me think you might be buying prematurely, rents aside, you must have something reserved in the event something goes wrong i.e pipe bursts, furnace stops working, leaking toilets, etc. 

Today I can assess deals in my market (Toledo, Ohio) from my iPhone in under 5 minutes the vast majority of the time.Where to start is not nearly as important as actually starting.

You can get a meter to go on the main right after the city master and that will tell you if you have leaks between the main and each submeter.

Examples: computers, iPhones, appliances, trucks, equipment, and so on.

Need to fix a leak in the basement wall and I don't want it to get complicated for me.

The tenant has not told about any water leak or moisture issue or mold till date.

I take a picture of water running to show that I tested for proper drainage and leaks.

The reasoning behind it is that I don't want it to fail and cause a water leak while I am out of state.