That class of tenant will be destroying anything you put in, therefore spend the least amount you must :)Hope this helps.

For example, if the adjuster determines that he thinks the hardwoods were 20 years old, but you can prove that they were just put in 6 months ago...

I am lookin at one purchase for 115k,  put in 10k in upgrades and sell for 148k.

That's $10,800 annually or a 12% cash on cash return assuming we put in $90k for down payment and repairs. 

Ask the listing agent or owner they will know.It could also mean though that depending on lot size that you would need  to dig a well and put in septic.  

They are what I refer to as shiny objects of distraction".There's a famous expression for this, "Penny wise, pound foolish", or this one, "Stepping over dollars to pick up a penny".

There is so much to find on this site, and so many ways to be profitable in real estate, that I kept getting distracted by new things.Since you are in the area, why don't you join us at the Metro East Real Estate Investors Association meeting this Monday?

It's how I pretty much figured on how it all worked, but it was nice to have it all put in one place and confirmed.

Still I have to put in $200-$400 each month on the property after rent, insurance, property tax, and property management.

Jeff, if the legal jargon in the contract specifically states that the contract is assignable then, no, you would not need to put in "and/or assigns".