I was looking at some apartments, and while walking the outside area I noticed 2 holes in the wall of one of the buildings (around shoulder height) about the size of my thumb.I looked in the holes, (like a binoculars) and could see inside the unit (fresh holes I thought), then I noticed a lower hole about waist high.So I went to the managers office (which had a posh 1970 decor) to inform her she had what appeared to be bullet holes in a unit.She said, oh yes she knew about them, the previous renters had for some reason drawn gunfire one Saturday and then moved the next week--location unknown.There was no problem now though because the unit had new renters in it.I said "and the holes are not patched why?"

I bake it into my rent cost and outline it so tenants are aware.

@Marcelle AbelI think the STR space is saturated with half-baked STR's.

Which by-the-way, all our multi-year leases have an automatic annual rent increase baked right into it, it's NEVER a static rent for multi years.

Fresh carpet, fresh paint, etc.

Everybody should be underwriting RET increases similarly, so this risk is already baked into the pricing.

It's fresh water which definitely makes things easier.

Paint and start fresh.

I have worked with lenders who are able to use the rental income from the other units in the property to help you qualify for the loan as well, which could be a big help if you're fresh out of college with a shorter job/credit history. 

If you decide to rent to them and they have 4 cats, charge a monthly pet fee for each cat - four cats adds up (even at $10 per meower that's almost $500 a year).I wouldn't consider Couple #2 - that eviction is too fresh.