If someone buys your LLC, as opposed to the actual properties, they will assume your Current basis, and depreciation schedule, which will increase their taxes when selling.

The electric water heater actually keeps costs down in my situation and makes tenants become responsible for conserving resources. 

My first visit was not quite as dramatic as yours, but it was a disappointment because the house (duplex, actually) was configured so weirdly I had no idea who would even want to rent it, lol.That said- is your disappointment due only to the state of the house, or is it because of you were to put money into rehab, you'd have no hope of recouping it from rents?

You will want to get bids from at least 3 of these type of companies (small water damage specialty contractors) if you actually purchase the property.

I've never actually checked but let's say 1 out of 10 guests has their own podcast and you already know they're experts in their niche.  

@Jose Garcia - tell her to get an actual loan approval from the bank, subject to property.

Making yourself valuable to an investor by doing things they don't want to or don't have time for is a great way to try it out, without committing to an actual property and discovering that it isn't for you.

They actually called and said "do I need that"!

I actually ended up paying $250k instead of $245k but we beat out the other offer on the table.  

You can compute the actual economic vacancy once you see the seller's actual numbers.