Some only cash flow about $125 per month so if I have really 1 maintenance item I am at break even or zero cash flow and if I have more then 1 vacancy I am nervous.  

This can be a pricey item that your lender (aka seller) might be willing to forego.You would still have the other fees associated with buying the property, mostly title company related fees.

We never want to be caught with the wrong date postmarked on the envelope, so we prefer to go to the counter and we go the extra mile by getting a "Certificate of Mailing" that proves the date the item was mailed. 

They get pictures and a line-item accounting of the deductions from the security deposit.  

If you look at 8 houses, and you are reviewing all at the end of the day, you can tell where one ends and the next begins,  We also make sure not to take too many pictures. 8 max of only the high ticket items, roof, windows, kitchen, electric panel, kitchen, baths, furnace, ac, front and back, andything unusual,  i dont want a picture with a hole in drywall that will cost 25.00 to fix, no pictures of carpet of paint, or things we will replace in every house.... always a couple photos for perspective. 

The construction work is mostly cosmetic with the biggest items being fixing a deck and kitchen rehab work. 

Check out www.securityproductsnow.com this website has some alternatives for self-defense items...

Immerse yourself with the different references materials Brandon itemized  above.

Conventional financing guidelines are vague when an appraiser has to call the various items you mention. 

I used to be sought out for restaurant consultation work but did not want to do all that traveling plus I like real estate the best.Another item to watch carefully is this minimum wage hike thing.