Now, the only question I have, is did you complete a move-in inspection report and have them sign at the time of move-in, were you present for the move-in? 

You want your team in place, like your inspector and realtor and lender, but don't sit around waiting for an inspection report before making an offer.

For instance, not bumping into tenants in the parking lot, putting up with tenants parties at two in the morning, etc. 

bumping post

The toilet is leaking for six months (not major work), but they did not report (maybe didn’t want visitors).

I assume it takes a lot of work to acquire and fix up a home for rental while also putting together a great team; figured there would be bumps with the team and need to get that smoothed out on first house. 

If you purchased with all cash and your property only has minor repairs that would not be an issue in the appraisal report you can get a Delayed Financing mortgage through Fannie Mae and technically cash out the day after closing instead of waiting six months .

I enjoy reviewing these and other reports to stay up to date on trends and opportunities in different markets nationwide. 

The owner has to take depreciation later on, the amounts to be reported won't be paid by the owner but by the tenant, you're claiming deductions you didn't pay for.

I'm no expert but I would guess not much.Every disclosure I ever filled out said, " to the best of your knowledge" and every inspectors report I ever saw said at the bottom, something to the effect that if they miss something you can not hold them liable.