Even though the property goes to the highest bidder you can find some good deals that pan out. 

If there's high usage in one unit , you'll have a heads up to investigate that unit for a leak such as a faulty toilet flapper. 

., repairing a toilet) instead add to the basis when they are done while preparing the property to rent. 

I tried using front bungalow as a flooring studio that did not pan out but always knew the potential to flip is there. 

If the tenant contacts us about some deficiency in the unit that falls under our purveyance, i.e. leaking toilet, dead AC compressor, we send someone out to take care of it.

They look great on paper but rarely pan out unless you are local and hands on.

(California Association of Realtors Lease in CA)Personal Favorite: All items thrown down toilet must be retrieved by tenant lol@Elizabeth Colegrove, @Marcia Maynard, @Mark Ainley, any favs?..

Yeah, cost a couple of thousand, but now the tenants toilet won't drain through her bath.Trees - look for trees that are dying on your property and get them brought down.

Other than it being hot in the winter (steam heat; radiators on the ceiling) and later realizing how tiny it was (all the apartments in the building was only about 800 square feet) I remember the only problem we ever had was the risk of the toilet overflowing during very, very heavy rain storms (dad built some type of wooden contraption to place in the toilet during heavy summer rains to push pressure on the water). 

In my own home when I put laundry on the 2nd floor I basically had a shower pan with a drain built, and installed a leak detecting cutoff valve.