I always replace toilets, shut off valves, water fixtures, add frostproof water spigots with additional isolation valves for winterizing, switches, light fixtures, Add ceiling fans to every bedroom, GFCI outlets, regular outlets, smoke detectors with 10-year or hard-wired-in, use a quality one coat semi-gloss paint, basic white washer/dryer and Exterior door locks with touchpads (key free). 

The house is ~2400 sq/ft on the first and second floor, with an unfinished basement running the full distance of the house, so about an additional 1200 sq/ft of unfished space.

Strategy 2 is less risky in the short term but might require additional investment later.Ultimately, the choice between these strategies should consider both the financial implications and the investor's personal objectives, including risk tolerance, investment horizon, and the importance of generating immediate versus long-term value.Best of luck with your decisions - these are good options to have  😊Have a great weekend,KC 

Please DM me with additional details.

Consider negotiating the price, exploring better financing options, or looking for a property with a better balance between affordability, cash flow, and appreciation potential.

Can I charge a holding fee until they move-in, in addition to the security deposit?

Some work to be done from the looks we see anywhere from 50k-60k in additional costs.

It sounds like their car is in bad shape so assuming they have insurance this is going to be covered and outside of their deductible they already have to pay they aren't out any additional money. 

It provides automated income & expense tracking via connected bank & credit card accounts, in addition to some basic property management functions.

@Jorge Liang in addition to stating tenant is responsible for utilities, our lease states that if they tenant does NOT transfer them to their name, we may legally do so.If you have the tenant's DL and SSN, you still might be able to do this, but check with an attorney.