Mike - The other item I would mention is that speed of financing comes into play as well.

@Chandler Rehbein When it comes to insurance companies they are not all created equal and certain companies target specific types of insurance so while the coverage items may be the same the pricing is far different. 

The second appraisal required a list of items to be done, add hand rails to front and back steps (a common request), some other minor stuff but the kicker was he required me to remove some rotten wood from the shed in the back and paint the entire thing.  

Start with letting go items that are easy to subcontract.  

I have sent him text text message to let him know that I would be disposing the items and in case he need access inside to pick anything before I dispose, to please let me know so that I can arrange access inside the house.

This would be for vacant properties that are not able to be financed by conventional means.Other items to note:Loan AmountsLoan Terms (Down Payment Needed / LTVs / Origination / Exit Points and Fees)ApplicationTestimonials of Clients In IndianaContact InformationAgain, I personally am not looking for funds but I want a resource I can readily refer my clients to. 

Letters around $0.70 to $0.85 for printing and postage.If you get into fancier, glossy items it will run more.So, a letter campaign of 500 pieces per month would get you $375 to $425.These don't include costs for buying lists or design work you might.

. :-)One last item to keep in mind too.

He since fixed some of the issues and one of his employees has been driving it around (I used to live down the street from him).Probably not very interesting, but the only items of note that weren't just junk.

The other downside is that generally college students will be harder on your rentals so wear and tear is higher and items like carpet need to be replaced more often (finding the right long lasting flooring is very important in college rentals).Good luck in your investment property hunt and let me know if you have any questions about properties, neighborhoods or the market up here in general.