Smells, mold, termites, punch list items and updating needed. 

If its ok with the seller..maybe utilize this time before purchase to extend that notice of rent increase to market.If you want to do some charity work or donate some of your full market rent income once you have it, may I suggest something in mental health awareness or to help veterans.

Success is not a nice linear path and when you get to a specific task/point and you move on to the next item. 

Keep flood insurance in mind and focus on the items that would cause your insurance rates to be higher.

I believe it costs about $80 to set up an LLC in Arizona, and I’ve set up 5+ myself with no issues.For accounting I use Excel for long-term rentals as expenses/incomes are the same every month (I just add an extra line item in case of extra expenses like repairs) and Wave Accounting for short-term rentals (it’s free and integrates to bank accounts!).

Do you have more information on the "collect a variety of taxes" is there other items aside from property taxes i would have to pay?

All of the major items are new or only a few years old which is what appealed to me since it should keep my capex and repairs lower than what I generally budget for.I have read your other posts.

You will also be paying top dollar for the property and realize that the property more than likely won't ever appreciate in value.All of the big ticket Capex items should also be replaced if they have a medium-short life span remaining.

Normally, a roof is considered an integral part of the structure and would be subject to depreciation over 27.5 years or about 3.6% ($3,600) of the total project cost per year.But whenever I have a roof done I ask my roofer to itemize the cost of labor and disposal associated with tearing off the old roof and dumping the worn out material. 

. - After my independent inspection, they fixed all the items that were found to be faulty - yes, they did.