After inspections there were about 5k in repairs that needed to be made.

Long lease terms always protect the tenant more than the landlord.Do regular inspections and evaluate come lease renewal.

I had 1 company went out for inspection and quote, tenant said there is some wood damage but the inspector doesn't think it is current active termites, it could be from old termite damage like back in 2017 or could be after that. 

There were 2 paint chips and the leaves had been raked into big piles in the back yard and not picked up.Being new landlords we were not prepared for this, how do we do a final inspection so that nothing gets missed? 

Seller provided inspection reports with the purchase.

Inspection went well.

*** Inspection shows some settlement of foundation block in a couple areas and a split floor joist _ Still Sold AS-IS *** HIGHEST AND BEST OFFER DUE BY 5:00 P.M.

If you are buying a property subject to being vacant, inspect the property prior to purchase, like, on your way to close and have your locksmith or handyman at the house and when you buy it, change locks and secure it. 

I would inspect the unit every 6 ish months.... 

What're the most expensive repairs involved in an inspection rpt?