Stained the backyard fence and deck, painted all the interior walls and trim, and updated all the door knobs for a fresh modern look.What was the outcome?

They don't charge you a fee until you've failed the inspection a second time; so it seems like the play for efficiency is to not waste time out there and if you do get flagged you go back separately and fix the issue(s)? 

No cracks in walls, dragging doors etc.

They have way more paperwork, they typically have lower LTV's and typically demand rehab draws as opposed to lump sums provided to the flipper.The good thing about going to a professional hard money lender is that they will evaluate and underwrite your deal and if it is not good, they are not going to lend on it which is another wall of defense to the beginner rehabber who thinks they have a deal but actually do not.

Seems like some one the more experience realtors out there have a lot of good contacts and have a good understanding of what is needed for an out of state investor. the LAST THING you need is a realtor, waste of time, 

After purchasing the property, we have installed privacy walls on a deck, something that about 50% of properties in the association has.

Other downsides could include parking and sharing walls with others.

Being a newbie I couldn't be expected to know much, and I also don't want to waste this guy's time or more importantly waste a very good opportunity.

It could be floor tiles, ceiling tiles, wall board, insulation, hvac insulation, siding, popcorn on the ceiling, or others.

@Richard Clark - Well wholesalers require POF so you don't waste their time.