I would bet he would be willing to pay more for the place because of his past and knows how hard its to find a place. 

Additionally, we had a wiring issue where power was cut to one side of the condo which I feel may be the from the rodents chewing.In total, I have had my maintenance contractor in there twice to make sure all openings are sealed in addition to fixing the wiring.  

Honestly, your best bet is to actively network, read books (boring and interesting alike) and listen to podcasts to develop your knowledge.

But would I bet a super-high end rehab on it? 

If that is the case, I doubt you would get $1200/month for a 3 bedroom unit.While I am guessing because you did not give much information at all, I would bet the renovation would be closer to $20k for what your talking about doing.

Best bet is to call the building and code enforcement departments regarding any prooerty related violations.

I will (hopefully) have two houses ready to rent in the next two months that will need tenants, and will also be looking for additional property to purchase.

Additionally if you find this post helpful please give it a vote on the right hand side of this post.

@Carter Crowley Thanks for the additional info!

It seems to me that the tenant should reimburse the landlord for the $150 fee that the court charges (in Maui, at least) to file the eviction suit and probably any additional court costs and lawyers fees as well.. but I haven't been able to confirm this.