The rehab items you mentioned sound moderate, while that can be risky it's also likely to have a better profit margin.The steps you outlined sound like a good plan to me.

.- Lawyer /notaryIt would also be helpful if anyone can share specific costs for any items, any unexpected costs, and the total cost.Thank you!

They then played the game of pretending not to be able to move in, and also started requesting additional items to be done PRIOR to officialy moving in.   

Have the homeowner sign a document stating that you are not responsible for any of their personal items in the house.

@sam no not necessarily and depending on the level the lease addresses this also depends on whether or not this is a multi-unit. 1) No in front yard; Yes in backyard ---- Reason: Unsightly and Blight and will eventually off put neighbors and will affect your value and next Tenant pool. 2) Same as #1 with another item of consideration; meat will attract vermin such as you mentioned it, flies but also others like rats, racoons, and other kinds.

I've never even itemized.

Your tenant leaves after a year, you get in there and find dirty floors and carpet, have to touch up or new paint, various broken/damaged items. leaks under sinks ruining cabinets, etc...

And just for clarification, I see our follow-up system as entailing two different items.

While we have tried to make a point to update as they items break (upgraded bathroom when tub broke not just replace).

I bet their were no regular inspections and not real option consideration or earnest money to be lost if not purchased, like 3 - 5% of FMV.A Security deposit on a nice home does not cover many damage items of being in excess of "normal wear and tear."