We usually bring our pressure washer, edger & weed killer (tenants always let weeds grow up around the heat pump for some reason), screen material and screen tools, plan on painting any exterior wood railings, doors, etc., that may need it, stain decks, fix loose fence pickets and gate hardware, anything that we know would cost a fortune in labor charges if goes through the PM but we can do ourselves at low cost. 

And, the IRS may not buy your claim as to buying an investment property for depreciation and expenses with a buy-sell.If you actually have the cash to bring the loan current, I don't see the bank barking about getting involved with their foreclosure process, but......that property is now on their radar screen and they won't be going with a Sub-To, slim chance IMO.

No need to hide your efforts, but it's also unnecessary to tell the world you want to quit your job.

Just make sure that you screen your GCs as well as you screen tenants and you life will be so much easier. 

A lot of them have very bad credit and one of my phone screening questions is: "Do you have good credit?"

Being tenants I have screened may have something to with it.

And I was assuming you'd be self managing so no PM fee.There's 850/mo in expenses there so your gross profit is roughly 650/month.At that price, you should make money providing your screening is good and your rehab includes anything that has a short lifespan (btw I replace water heaters on every house I get - no matter how good they look.

Getting them out of your property and refilling the vacancy with better-screened tenants is probably a better use of your resources.

He is able to answer most of my screening questions.

If i'm negotiating a land deal is there any way for me to pre screen for known or common issues?