When we left the place was in excellent condition, but needed cleaning.

The W Washington Street area is kind of rough and most houses are in poor condition.

I knew the neighborhood well and had inside knowledge about the condition in which it was left in.

Know your local water conditions and install a water softener if necessary.

I would seriously sit down and look at "what is the minimum we can do to get this into a sell-able condition".Sell-able doesn't mean "looks great and tenants/buyers will love it", it means "a buyer will walk through and think, this can be rented at roughly market rent", and won't think, "man this is a fixer upper I'm gonna need to dump money into to make it rentable".Multis are, as I write this, still pretty hot.

Needing size, interior condition, rooms, bath, age etc. can not make out what you are getting?

In addition, a termite inspection and home inspection is a condition of the sale.

Price, condition, location -- those are the three things that sell houses.  

I however, cannot help but feel as if I am taking advantage of the conditions in the area.

I always give new tenants the overview of ‘this is an old house, it might have lead paint, but we keep it in good condition with new paint, no peeling/chipping, etc. as long as you don’t chew on the windowsills, it’s all good’.