This method provides benefits to you and the owner, along with a lot of flexibility regarding the terms.

Methodically eliminating every item on the inspection report starting with the safety hazards to cosmetic.

@Junior Picanco brilliant!

I'm starting to look for more creative financing methods especially given the market is starting to shift - and trying to figure out the "how" to make deals work as opposed to just leaving it once a traditional method doesn't work out.

@Jeff S.QuickBooks should match your bank account if it’s cash method.

I wanted to outline my situation to see if the brilliant minds at BP have wisdom for me! 

I can tell you how I account for these things but I am sure that my method is just one of several solutions that may fit your circumstances.First, repairs fix things that are broken.  

A technical question for those using electronic rent colletion methods -For instance if a tenant is late on rent, I assume the system emails them with a notice saying so.

I do not know how common the method told by @Ron Scribner and @Sean OToole are in other states.

I will test a variety of methods, but everyone seems to advocate the standard direct mail method.