There is a substantial difference between vinyl, formica and standard appliances and granite, tile and stainless steel among other things.

The pool of "good" tenants dries up and landlords lower their standards, resulting in unpaid rent and trashed properties.

What is standard practice?  

Don't think we will get there, but if we do get back anywhere near 2004 lending standards (or lack of), it may shoot up for a year or two then look out below!

Think strategically and two or three purchases down the road; certainly think through the options on how/when/if you use that 10% down loan because it can open up options to higher priced properties that don't require any work now and/or limited future maintenance if you are buying newer properties (ie down payment is the only cash you need beyond standard reserves, etc).  

(Of course a private loan will likely have different terms, but Wells Fargo should be used to standard terms for conventional loans.) 

A hard money lender will likely require you to be prequalified with a standard mortgage company before you are granted a loan through them.  

If you're looking to live in this property for at least a year, this is a great strategy to get in for only 3.5% down for the property+rehab costs, at a pretty standard interest rate.

Hi allWhat are standard list agmt terms when selling an investment property?

But I assume your screening standards require you to weed out many tenants before you actually rent out the place.