Many of the items on the list of violations are fairly normal stuff (i.e. light fixtures replaced, new electrical outlets and covers, add GFCI's in wet areas, replace some screens/windows, water heaters).

The Option will show up as a line item on the HUD-1 and you will be paid out of the proceeds at closing.

Dwaine,Fortunately, you were able to find the crack before we had major rain and other items in your house were damaged.

Before you start making offers, go to your lender and get pre-qualified and see what the costs will be and what pre-paid items there will be for you to pay.

Particularly in a four-plex, where you may need to replace several of the same items (lets say appliances) over the same time due to having multiple units.

This assumes everything is run perfectly w/ no vacancies, major capital items....  

It provides many strategies for managing your rental business and I found it quite helpful.As for your concern with large cap ex items such as roof replacement, HVAC etc, as long as you budget for those items and still cashflow, you should be ok? 

One other item; San Antonio has a website for looking up contractors' licenses; it is NOT 100% reliable, as demonstrated by a few followup calls I made.

A few items in the kitchen and bath...maybe something on the mantle...all tastefully done....it can be very effective. 

When the tenant moves in, we give them a Move In Packet, which includes "Move-Out Instructions" too, which has three pages: Move-Out Instructions, Minimum Charges for Services and Turnover Costs guide (typical charges for damaged items or need for additional cleaning), and Notice to Vacate form.2.