What is Attractive:I can create this deal on purchasing a $1mil to $1.3 mil 4-Plex in SD with only $100k as opposed to a 30% (+ or -) down payment.My Goal:To own my first rental property by the end of this years winter. 

Chris, I don't have a template I can give you, but we check/change air filters, smoke detector batteries and do a look over the overall condition of the interior and exterior of the house. 

@Charlie MooreAs opposed to not being paid?

Invested in common areas, exterior improvements, power washed, re-paved, etc., Did light cosmetic upgrades that make a big difference in retaining and attracting new tenants.

Add on water boilers, siding, installing a furnace, painting the entire exterior, etc this expense can add up over time, so increasing it can't hurt.(2) I am a big fan of having a misc budget of $50/unit/month.

For example the types of locks you have on exterior doors (California requires deadbolts on exterior doors to rentals.) 

New windows, newer roof, brick exterior, etc.

Also, none of the the previous tenant sent ever complained about pests.To date we have sent out an exterminator to spray the exterior and interior.

That is just common sense.The door should be around $200-300 for exterior.

The deferred maintenance included exterior damage to the stucco and woodwork, plumbing and electrical systems that were substandard, and interiors that had not been updated in 25+ years.Numbers:List Price: $1,250,000Purchase Price: $1,080,000Rehab & Operating Budget: $378,000Total Project Cost: $1,458,000Total Equity Raised: $361,066Total Debt: $1,100,000 combination of purchase & construction debtPost-Rehab Sale Price: $2,127,500Immediately upon close of escrow, we set out to accomplish two things as quickly as possible and at the same time.