Its a lot easier and cheaper to do the repair on your schedule with the house vacant as opposed to waiting until you get a call (always at an inconvenient time) or maybe worse... you don't get a call and the leak or issue goes unaddressed causing collateral damage.  

Of the 4 units, there's had a decent amount of damage, trash on the ground, and was the dirtiest unit by far. 

Does cigarettes cause more damage to the interior of a home than weed does? 

I've put together a quick proforma and I wanted to get some (semi-)professional opinions.Case Study:Cash deal (no financing for purchasing/rehabbing)Asset ~$20,000; Rehab ~$3,000; Closing costs/fees ~$2,000Total out-of-pocket: ~$25,0002-3 Bedrooms, 1-2 Baths; Rent $700-$850Annual Gross Revenue: ~$9,000Property Tax ~$1,500; Property Insurance ~$1,000; Property Management ~$1,000; Vacancy Loss ~$1,000; Replacement Reserves ~$1,000Annual Operating Expenses: ~$5,500Annual Net Profit: ~$3,500Cash on Cash: $3,500/$25,000 = 14.0%Risk Profile:Rental properties in low-income areas carries the risk of vacancy, damages, delinquent payments, and evictions.Risk Mitigation:I see paying a Property Management company as being a great way to help with: sourcing the most reliable tenants, bi-annual interior/exterior inspections, and handling the delinquencies/evictions. 

I'm mostly worried about the damages they may do on the way out.

He says that this damage is almost certainly brand new and done by the tenants in an attempt to relight.

Hello Everyone,I recently ran into a house in my area that was damaged from Hurricane Mathew.

Colission damages are one issue, but liability, that one could put you in the poor house big time if the insurance solution is not iron clad.  

Specific to Colorado:http://www.landlord.com/state-habitability-statute...which states: Running water and reasonable amounts of hot water at all times furnished to appropriate fixtures and connected to a sewage disposal system approved under applicable lawRemedy is here:Upon no less than ten and no more than thirty days written notice to the landlord specifying the condition breaching the warranty of habitability and giving the landlord five business days from the receipt of the written notice to remedy the breach, a tenant may terminate the rental agreement by surrendering possession of the dwelling unit if the condition is not remedied or damages paid.

It is an on-going expense some times but I roll that over onto the tenant if they damage them.