I could think of a hundred things that go wrong other than it ends up owning the property.

Well over a hundred kids and only one issue, a burn in a carpet that Doctor Daddy sent me a check for!

Higher standard: I know real estate agents are thought to be held to a higher standard, but it's hard for me to envision a licensee that just because he took a basic principals course and passed a grade level exam would be held to a higher standard than an investor that has done several hundred flips or a real estate attorney with 25 years experience.Assuming a re licensee was NOT acting in the capacity of the license, but simply as a principal, does anybody really think a judge would hold a re agent to a higher standard than any other equally (or more) experienced real estate professional, under the same circumstances?

FWIW, we have several hundred tenants, but less than 5% would like to pay online or by credit card.

You should be able to command hundreds of dollars a month more for the extra bedroom and bathroom, so the rehab could easily pay for itself over the next couple of years.I converted a 2BR/1.5BA house into a 3BR/2BA house just over ten years ago using the existing floor-plan (didn't add onto the house, nor did I convert the garage).  

Open the appliances and cabinets on the video, lift the toilet lids and pull back shower curtains to get a full scope of the property.I hope they have left it in good shape, but if they have not, you want video proof.

I, too, have a small appliance store at my disposal, as well as faucets, locksets, extra vanities, odd pieces of trim, cabinets, tile, a few doors, sinks . . . you get the picture.

They never notified us and the spoon caused the disposal to deteriorate and leak which caused severe water damage to the cabinets underneath.  

@Leon Lee without knowing anything about the property,  no one could give an acurrate answer.You are the one who can give the best response if $50,000 is enough to cover the inside finishes, such as kitchen, bath, carpet, cabinets, lighting fixtures, etc.I can tell you that on average, most condos are covered for between, $25,000-$100,000.

I buy my stuff from Home Depot (I have a commercial account with them), Lowe's (though they are testing me - I have a stove and fridge bought March 23 that STILL hasn't been delivered and based on conversations this morning is at least a week out), and MFS Supply.com.MFS Supply has reasonable prices on everything from appliances to cabinets and anything else related to REI and Property Management.