It's in a good neighborhood, needs minor cosmetic repairs but even these repairs can be delayed somewhat because there is already a tenant, so it's instant cash flow.

Fellow landlords - What sort of recordkeeping system do you use to document that you have performed any routine inspections and maintenance you may be required to perform?

I'm identifying planned cosmetic updates that I could change to save $ without affecting resale or cutting corners (tile in the dining room being just one of them).

Look for this to be coming after the first of the year.There is a post on facebook one of my facebook connections in LA posted about this guy ripping her rents as well. so I suspect this goes pretty deep for McKnutt..There is a lot of temptation in that industry I mean you get up to 200 to 500 houses and whats your gross cash flow... 140 to 350k a month into your account.. you can see were someone would just think well I will just take a few grand here and put it back when my next deal closes.. the ole rob peter to pay paul routine that lends most white color folks in Jail.like you hear from you if your required to be  a  RE broker in TN to be a PM...

While the house needs small cosmetic upgrades, it sounds like it would pass an inspection through the bank (speculation at this point), given the buy price is below the market price and it's livable. 

property needs cosmetic work only so it seems, tax assesed value is 147,000 and zillow had it appraised at 200,000, nice non crime neighborhood.  

I ended up not making any changes to the house other than cosmetic upgrades.Fast forward 2 years and I have not had a single issue with anything he recommended replacing. 

I have a tenant that routinely finds things she wants "fixed" even though they work perfectly fine.  

The key is finding a cosmetic fixer that can easily be rehabbed and turn a profit in a short amount of time.

Need cosmetics, new paints, carpet, flooring, new windows.