For me, I like to get 12% Cash on Cash and $150 per door in cash flow.

Rekey, paint, carpet, blinds, switch covers, faucets, doors, AC filters, etc.  

The House next door to me is foreclosured and listed for $53k.

Wouldn't a surplus drive rent and values down? 

Now, the bank will require some documents before they approve you for any loan, such as; Copy of your drivers license/Identification, 2-3 years tax returns, 2 months pay stubs, investment documents/statements, an actual loan application, 2 years W's, 3 months bank statements, any retirement/401k documents/statements.

Regarding maintenance, lease only mentioned that tenants are responsible for the following:-All electrical systems and fixtures repairs when those are necessitated by the fault or negligence of the tenants-All doors, windows and frame repair -Protection against insect and pest-Structural repairs from tenants fault-Routine HVAC maintenance and repair-Lawn.

I had converted basement into a two bedroom with connected door to bath from master and living space with kitchen.

The tenant has since explicitly stated in writing that he refuses to be inconvenienced by answering the door to the Mail Carrier or to go to the Post Office and pick it up/sign for it.

There are so many brokers beating down the door, not to mention all the 100% commission types that don’t advertise much that I’m a bit overwhelmed.

And once the forbidden door to the forbidden room is open, it's not my problem if they're surprised by what they find in there.