I could go on and on about this but those are the basics I follow and advise my clients to follow when in a highest and best situation.

I have taught myself a basic but great amount of knowledge on what it means to be an investor.

I am going to try to dumb it down a little and stick with the basics.

They have asked me to basically do all the leg work and help manage the properties.

However, I do know there's codes and rules for the units to "pass" to be section 8, so I would look into those before the purchase (see if and how much you might need to put in) and know some basic things like that if you don't already.

If some of the ammo is old - some of it (mainly the boxes/packaging they came in) can be very collectible to folks and they'll pay good money for it.I just glanced at a summary of the regs for CT - basically the same as KS with a few more restrictions but not much different. 

Basically, convert to using payment rules of thumb rather than purchase price.

Paper Towels (two rolls) ($2-$3 bucks)Toilet Paper (4 pack) (for when moving people forget the basics during a move)Hand Soap ($1.79 I think)Dish Soap ($2.00 or less Dawn)I spent maybe $60 on all of it max.

@Heidi Lutz - Honestly, pre-foreclosure thing on Zillow is basically pointless (and something they are using for leads, which Zillow is famous for).

They promise paprs of incorporation, minutes of board meetings, a company seal... basically a business in a can.