I'm a big fan of value-add opportunities, whether it's buying something currently undervalued & fixing it up to my standards, or buying something that has additional income opportunities that have yet to be incorporated. 

Your post neither provides valuable or additional information nor did you post direct questions like the rest of us do.    

Either way it would be a grey area, selling a house with a different amount of units/bedroom/bathroom seems extreme though. its an auction site, I have seen auction sites miss the fact there was additional lots in a sale.

Additionally, I expect applicants to follow instructions in the advertisement and application, to make and keep appointments, to show up on time for appointments, dress and behave appropriately at appointments, and in general demonstrate throughout the process that they are someone that is easy and pleasant to do business with.

Additionally, you want to start building your "Core 4": agent, GC, lender, and PM. 

In addition, all Rent payments hereunder not made within five (5) days of the due date shall bear interest at the rate of one and one-half percent (1-1/2%) per month"The monthly rent is $1550 so the late fee is easy - I've set the account to charge 5% if the rent isn't received within the 10 days stated ($77.50).

What kind of savings do you guys have in addition to the income savings each month? 

Additionally, when a problem arises, those problems get addressed and all parties involved are updated.Being a property manager is a hands-on / high touch vertical.

Yes, I’ll check with regional building, but curious for additional thoughts here.

Your primary strategy should be to have the Contractor and all Subcontractors add you to their insurance policy as Additional Insured.