I would say that you should be prepared to cleanup and replace items upon move-out if you have college students.

I will begin speaking with portfolio lenders this week in preparation for house hunting.

So once you have this knowledge you are more prepared to call the cops and get past the first screening from the dispatcher.

So, you better be prepared to pay them off if that happens.

I really need to know how to prepare a CMA and if anyone can give me some knowledge, that would be great.

I attended a landlord bootcamp which I HIGHLY, 100% RECOMMEND even well experienced landlords go to, not the city run one, which I also have been to and came away thinking it should be called the "tiny bit of good info and LOTS of veiled threats if you're a future slumlord class" but its from the Apartment Assoc of SE WI (I'm a member for full disclosure) but you'll get 8 or 9 hours of PRICELESS info directly from the attorney who my usual, general practice lawyer said is hands down the one to call for any bad eviction or potentially big liability type deals and he'll go through things that the city for one, would never dream of telling you, such as how in Milwaukee Cty, our judiciary is very biased to the left side of politics as you'd guess for a generally left leaning county, but that many of these judges take those political stances right into their courtrooms and you sure as hell better be prepared for rulings that fly in the face of the current laws, especially the changes made a few years back when the GOP gained TOTAL control of state gov't in legislature as well as the governor seat and as was national news at the time, went like a machete through the law books and fixed a lot of things needing fixing, including several relatively minor aspects of landlord/tenant laws that COULD be exploited, as well as stuff that didn't make sense anymore, etc.

Your transparency shows that accidents happen to even some of the most careful or prepared people as well as the unprepared. 

What should I be prepared for?

Good news everyone, the $500 de minimis safe harbor limit was increased to $2,500 for taxpayers who place property in service, that are NOT required to produce an audited financial statement(applicable finance statement).Effective for January 1st 2016 they are adjusting audit procedures to ignore items below this threshold provided provided you have a receipt.This means you will not have to depreciable items below this threshold as long as you elect that safe harbor.Of course it was released this morning, after I prepared for my presentation this evening.This represents HUGE $$$ savings and time savings.IRS Notice Notice 2015-82This Notice is effective for costs incurred during taxable years beginning on or after January 1, 2016.

But be prepared to demonstrate that if you do rent it for less.