If you can get in and out of a BRRRR let's say leaving $10k in the deal.Obviously not having your name tied to the debt is a plus, but also if you haven't structured these correctly they can come back and bite the investors (due on sale, issues with prior owner of record etc). 

My intention is to address this issue by replacing all the deteriorated wood with water-treated alternatives.

I lived there for 3 weeks and then had to move back to Fredericksburg VA for a multitude of family issues.

I bought a Victorian mansion from a friend who hired the local professional flooring/bathroom company to install the bathroom tile and she had 3/6 bathrooms with large tile crack and have other issues that she had to have them come replace the tile twice in one bathroom.

@Paul D.I ran into this issue.

I would recommend first off handling whatever credit issues or building your credit profile/score. 

Based on your numbers above I cannot imagine any of this would be an issue however as your DTI should be fine, but no one can give you definitive answers without an application.2. and the last sentence of the above IS the way yo insure a smooth process.

However, there's a critical ethical issue if the company did not accurately represent these terms or the process, leading to your misunderstanding.

One unit is rented, and the other one just went through some quick renovations (painting, flooring, etc), but I found a few minor issues during the viewing.

@Ray Williams E&O doesn't cover slip & fall liability issues at YOUR rental.Doubt their commercial policy covers anything but slip & falls at THEIR office.So, they should want you to add them as additionally insured, so your insurance covers them for a slip & fall at YOUR rental.