The credit report will likely give you insight on whether or not you want to sign a new lease with your inherited tenants.

I have worked hard my whole life thus far and realize it is so important to diversify your portfolio across many different types of investments, a key metric being Real Estate. 

LITERALLY before my life blew up and I closed on 2 SFHs for STR on the same day! 

Do not try to do it yourself as most borrowers do not do as an underwriter will and they short change themselves.

Furthermore, understanding the resident characteristics allows me to measure the target market and modify my investment strategy accordingly.Inspection ChecklistSituations vary from one property to the next, but here is an on-site inspection checklist to get you started:Interior Units:Inspect vacant units, including one of each finish out type (Classic, Reno, etc.).Check all down units.Inspect one unit from each unit mix.Exteriors:Landscape:Look for overgrown bushes.Identify trees that need trimming (no branches hanging over the roof).Take pictures of the following:Curb appeal on all sides facing the street.Landscape around the office and amenities.Overgrown bushes or trees.Any dead landscape.Areas that may need sod or mulch.Assess drainage:Ensure water flows away from building foundations.Check slope, gutters, downspouts, surface drains, French drains, etc.Exterior Walls:Determine the existing material (wood, vinyl, Hardie, brick, stone).Assess the condition of the walls.Note if painting is required.Take pictures of each building, including building number, each elevation (clockwise), and any breezeways or niches.Windows:Evaluate the condition of existing windows.Consider whether solar screens should be installed.Roof:Identify the type of roof.Assess its condition and age.Parking Lot:Check for potholes.Assess the need for restriping.Note whether the parking lot is concrete or asphalt.Evaluate drainage issues.Walkway:Look for tripping hazards.Assess drainage issues.Foundation/Gutters:Inspect for cracks in the brick.Check for separation in corners from fascia and trim boards.Evaluate drainage and identify poor drainage areas.Amenities:Identify possible improvements.Consider adjustments or additions that can enhance amenities.Talk to the Staff:Maintenance: Inquire about the physical condition.Office: Discuss current residents, delinquency, and potential changes to add value.Assess whether rents are too high or too low.Confirm rents and what is included/not included.Confirm other sources of income and associated charges.Confirm occupancy, pre-release, and vacancy numbers.Note: Maintain professionalism and avoid insulting the owner or broker, regardless of the property's condition.Keep in mind that investing in real estate is like solving a puzzle—you need all the pieces to see the big picture.

Hi @Marquez Davis :)  I'm not active on here, but am in real life LOL  If you're free tomorrow, there's a monthly meet up in Wilmington at the Riverfront at 6pm - 112 S.

@Scott Trench Thank you for your insights, this will help me adjust and take action. 

Especially for a rental, unless there’s structural signs of major shifting or an engineering report on recent changes to the foundation I question if you really need to spend money on that.  

Cash-flow is chump change when compared to appreciation. 

Would not use anything but Pex and in your case would hold off replacing the plumbing for now if there is any possibility of codes changing in the next few years to allow PEX.