I've been apart of a few deals where we just bought the property outright and then did a little bit of cleaning up to get it ready to sell and then turned around and sold it to end home buyers.

i dont see capX. vacancy, the annual repair number seems quite low thats only $71/year per unit, as does grass and snow you have only $55.50/mo. i doubt that covers one snowfall or grass cutting per month , you will also have garbage service you need to pay for, and if the city requires you to pay for Fire inspections, or licensing being commercial they can, as well as sprinkler system and fire extinguisher contracts, common area cleaning and maintenance,  and Management. im probably missing something here yet. so rents average $500/mo fully occupied?  

BUT THERE IS A REALLY IMPORTANT TRAP TO SEE WITH SCHEDULE E: your Schedule E returns have a line item of "Cleaning and Maintenance" (line 7), "Repairs" (line 14), and "Other" (line 19).

Another option I have seen with a lot of people in the right areas of Kansas City with in walking distance of all the it places down town is nightly rentals, take a little more up front management and a cleaning person, but much higher rents if it can be done in the condo and town.

If this is a low end rental I'd make sure everything is clean and functional and use as-is.If you are looking for something a little better maybe leave the cabinets in place but install new laminate counter tops, sink, faucet, and mid-grade appliances.

This is a good feeling knowing we are giving people a clean safe place to live and that they recognize and appreciate it.  

Size:  Above Ground 1,660 sq ft/ Unfinished Basement 350 sq ftI'm looking to update below items:Exterior: New roof and window (as needed)Yard: Cut big 2-3 trees in the backyard, clean front yardInteriorBasement needs mold remediationNew kitchen (cabinet, appliances, & etc)New Bathroom (2.5)Move/remove walls Add ceiling wallAdd insulationelectrical work (if needed)plumbing (as needed)new paintNew floorIt pretty mush needs a complete renovation.

Size: Above Ground 1,660 sq ft/ Unfinished Basement 350 sq ftI'm looking to update below items: Exterior: New roof and window (as needed)Yard: Cut big 2-3 trees in the backyard, clean front yardInterior Basement needs mold remediationNew kitchen (cabinet, appliances, & etc)New Bathroom (2.5)Move/remove walls Add ceiling wallAdd insulationelectrical work (if needed)plumbing (as needed)new paintNew floorIt pretty mush needs a complete renovation.

I need a project manager on the ground there to help me get it cleaned out, get some repair estimates and get it sold to an owner-financed borrower.

.- verify with the building department the property has a clean history of compliance.- verify the next building inspection date.- review PM terms and arrangements. - confirm all mechanical/utilities are owned free and clear (make sure there are no rented mechanicals/utilities, for example water softeners/purifiers). - Confirm the health of the T12 with your accounted!