If, however, your rehab consists of paint, carpet, appliances, kitchen and bathroom remodeling, you can do that yourself and present receipts or invoices to Lender to have repair escrow funds released.Hope that helps!

No painting or roof fixing for me on weekends I guess.I don't think I would ever invest in a condo as a rental, and if HOAs are run by idiots, well, then it's bad news.  

If they painted a room in the old house, they are now professionals and may paint your house too.I use to check out how clean their car is using that as a reflection of how they may keep house.

Items such as hardware, outlet covers, light fixtures, caulking, window blinds, painting supplies, etc.

Hardwood floors,granite countertops,stainless steel appliances,new drywall and paint throughout.

It will need paint all around.I have another unit that is the same floorplan but the proper 3 bed layout. it rents for $650 and I bought it from the same seller for 40k last month.

Can be time consuming to set up, and may cost a little extra, but you'll get a better paint job and happier subs if it just needs to get done.Landscaping is always the toughest part.

:NOTE: Important to keep the date of when these items were receivedFINANCIALS (get from Property Management Company or the Seller):Annual Operating Statements (for past 2 years)Monthly Operating StatementsYear to Date Operating StatementRent Roll for the last 2 yearsLast 3 month's Bank Deposits by the sellerBudget ForecastExisting Loan Documents ** ask if will take AssumptionSecurity Deposit Account StatementUtility DepositsRequest Schedule E if questionable financials, certified by accountant.OPERATING INFORMATION **** Must sort by importance:Management ContractCopy of all Lease Types (all leases delivered at closing)Concessionary RentsLease Expiration ReportUtility Bills (for Water, Sewer, Gas, Electric, CATV, Ethernet, Phone) - for past 2 yearsProperty Tax Bills - for past 2 yearsService Contracts (all currently under contract: trash, exterminating pests, maintenance, laundry, pool, elevator)Advertising ContractsPayroll Register (employment contracts)Operating Manuals (phone, computer, fire system, etc.)Insurance: Policy (premium disclosure)Insurance: Claim History (for past 3 years)Insurance: Carrier Risk AssessmentMiscellaneous Agreement (Vending, Pay Phone, etc)Capital Improvements and Maintenance History (for past 3 years)Incomplete Maintenance Requests (for last 3 month's maintenance requests)Yellow Pages Listing ContractCredit Bureau ContractPet PolicyCommission AgreementsRent.com reviewLEGAL AND PHYSICAL INFORMATION:THIRD PARTY INFORMATIONAppraisalDeedTitle PolicyLast Sale Price/DateTax Assessment: Land/BuildingSurvey (Get the original)Architectural PlanSite PlanInventory of Personal PropertyTools/Supplies InventoryBusiness LicenseZoning CertificationBuilding Code Compliance Letter ** Tell bad news fast to your investors; don't hold off on thisCertificate of Occupancy ** Tell bad news fast to your investors; don't hold off on thisRental Ordinances ** Tell bad news fast to your investors; don't hold off on thisLitigation History ** Tell bad news fast to your investors; don't hold off on thisTenant Estoppels (Optional at Closing) ** Tell bad news fast to your investors; don't hold off on thisBuilding PermitsMARKET INFORMATIONMarket Survey (3 - 5 nearest competitors)Existing Competitive Supply SurveysEnvironment Surveys - Phase I/Phase II, if necessaryEngineering ReportFire System Inspection ReportsElevator Maintenance Report (if applicable)Boiler Inspection ReportHVAC Inspection ReportLead Paint - Inspection reports / tenant waivers / historyMold - Inspection reports / tenant waivers / historyFuture Competitive Supply ForecastPictures - Aerial / GroundArea MapApartment AssociationApartment Guide ListingCopies fo All ADvertising, Brochures, Floor PlansDemographic Reports: Housing, Income, Employment (3 radii - 1 mile, 3 miles, 5 miles distance)Traffic Study and/or Road Improvement PlansNeighborhood Survey: Shopping, Schools, EmployersCrime Report

In any case, I have done this where the interest rate was bought down (PPD interest), another where the purchase price was reduced (requires a new Amend/Extend to the CBS contract), another where the buyer needed to repair the roof and paint the exterior, but did not want to come out of pocket, so a repair escrow account was established for this purpose.

Basement, .25 acre, oncul-de-sac, off-St parking for 3-4 cars, no garage Purchase Price: $148,500.00 w/ 25% down 30 year Mortgage: $111,375.00 at 4.875% Taxes: $5,400.00 Insurance: $800.00 Repairs: New Appliances, Paint, Refinish Hardwood Floors, Update bathroom toilets/vanities, Replace Gas Boil.