I have heard places like certain areas of FL require permits through licensed contractors if you are repairing over a certain (small) percentage of drywall, and even painting.I always recommend discussing with the town/building inspector before you even go after a property.

It seems like it'd be an effective strategy if I built a brand in my small town and surrounding areas where people knew they could send me a lead of someone they knew, to make some quick cash if I closed on that deal.Assuming this IS completely legal to do, it leads me to a couple different questions:1.

@Adam SankowskiBuy some small properties and leave them free and clear to stay safe.

giving credit my go into a bad road depending on the type of people your tenants are as they might expect it again down the road. if they are great tenants, never bother for the small stuff and you want to keep them, I would give them a small reduction on rent to help them off set the electricity bill.

However, we completely renovated one unit, made exterior updates and small updates to other units (paint & a/c work), increased rents, and the neighborhood has undergone some big positive changes.

The strategy I used for my first purchase is a small multi family and rent out the other unit.

It used to be farm land years ago but nowadays farmers aren't interested in renting small acreage.  

She has a small dog and a cat (we are allowing up to 2 pets with fee). 

I'll happily take a higher rate on that small loan in exchange for less points and more money in my pocket.

A lot of bigger lenders don't want to mess with small commercial loans, but you should be able to find a local lender that is willing to work with you.