Then I don't think I'd allow customers in to be able to look through the items, I think they would have you pick them up, or drop it off, and have them sign that it was dropped off, taking lots of pictures of the items for records, and then simply returning the items to the person when they need them again...perhaps the next semester. 

I think a lot of this is too subjective and could cause landlords to be fined for non issue items. 

As a lender now I feel like the house probably barely qualified for FHA financing, those loans require a more move in ready house which it was but a lot of the big ticket items needed to be replaced within 2 years (HVAC, roof etc).

The other item I wish I would have started improving earlier in my career was to get my personal finances under control.

You'll need to know market trends, including construction costs per foot in your area (or maybe a more profitable area somewhere else) and you'll need to be able to support those numbers with comps, property reports, and crunching them into your own REI cash flow model.

Here is my example of what you are speaking about.Purchased a home in the first phase of a 5 phase builder project for $125K, in January of that year.The home was completed in September of the same year and the currently models were still selling, but at $175K.Closed on the home, put it on the market with an agent and sold it two weeks later

. $1m property also isn't $800k in building value).The 2 recommended options are DIY modeling or Cost Segregation:DIY Modeling: Come up with some expression you could reasonably defend in county court if you get audited somehow.

@Eric J Platter I think you're trying to develop your own financial modeling tool to help you formulate your bids on notes.

Awesome to hear you are implementing the house hack model! 

Refinance & Repair:You could refinance the property and use the cash to take care of of the major capex items coming in the near future.