In your shoes I would do legal, routine inspections to keep an eye on things.

If it's LTR- you can just give the kitchen and bathroom a cosmetic facelift.

It mostly needed cosmetic repairs and a new central air unit.

It mostly needed cosmetic repairs and a new central air unit.

Cosmetic updates of paint, new appliances,/vanity.

Cosmetic updates of paint, new appliances,/vanity.

Short term goals: Accumulate 200k in cash ASAP Long term goal: 15k cash flow Numbers:-Bought in October 2020; VA loan; 2.75% (2.94% APR); $6.5k in closing cost -Purchase Price: $685k; after funding fee total loan: $701k; currently outstanding loan: $679k-Since then, increased total rent from $4,200 to $5,160-Operating expense: $1,650 (using $200 for routine repairs/maintenance cost)-NOI: $3,312 (using 4% for vacancy)-Mortgage (P+I): $2,861; Total mortgage payment: $3,505-Total monthly expenses: $4,967 (using 5% for cap ex…which is conservative as opposed to 10%)-Monthly cash flow: $193-Annual cash flow: $2,313Reasons to hold: -It is a stable, generally stress-free property. 3 of 4 units have been great long term tenants-Low interest rate at 2.75%-It is in a reliable area that will steadily appreciate  -I don’t necessarily need the capital right now.

Cosmetically the house is ready to rent. $3K/month.1) sewer line: we are having sewer root blading and re-scope again, then decide if we need a replacement. 2) plumbing: main shut-off is copper, visible plumbing in bathrooms are copper.3) electrical:  electrician coming tomorrow.

For you to be found negligent for a gas leak or a balcony failure, you'd have to have reason to know there was an issue or you would have had to failed to inspect when the standard course of action was to do routine inspections. 

We had a few offers, but when we got it pre-appraised we loved the equity we were able to get by just doing a cosmetic update.