And investing into a correction with no information about where the bottom is, well let’s just say it’s not my cup of tea

The last tenants did some damage to the interior of the house and repairs like, sheet rock, fixtures, paint, etc. need to be completed. 

Light rehab, paint, blinds, fixtures, and paint cabinets.

I recently learned they are being sued because one property they managed one of the people touring it, trashed the place and stolen everything including light fixture/faucets.

The biggest mistake new investors make is to walk a property, maybe explain in general terms what they want and then let the contractor come up with the SoW.For a bedroom this could be:- replace carpet- repair closet dooror- remove carpet- remove curtains, nails and screws- replace closet doors, entry door SKU#- replace window SKU#- refinish hardwood floors 144 sqft, clear/oil-based- prep and paint all woodwork- patch walls, texture, paint walls eggshell white clay, ceiling flat white- replace light fixture SKU#, replace lightswitch w decora/white, replace 3 outlets&covers- install blinds SKU#Obviously, the cost would be quite different.

., appliances, fixtures, landscaping) into shorter depreciation categories (5, 7, or 15 years) rather than the standard 27.5 or 39 years for real estate.2.

.- Lighting fixtures- Smoke alarms / carbon monoxide detectors- Window and door repairs- Water heater maintenance

replace fixtures, HVAC, paint, and refinish floors.

Painting, plastering, refitting out fixtures and fittings, windows and doors.

Lower income tenants tend to live rough in properties.There is another topic from years ago on bullet proofing rentals for low income tenants that had some good nuggets in there to try.Not my cup of tea but hope it does amazing for you.