The warranty deed is used to maintain title insurance, as opposed to a quit claim.

I dont have much to offer at this moment, but i will definately try to help others whenever i feel my opinion can honestly help because i know what im talking about as opposed to giving a half knowledgeable answer and confusing or misguiding others.

The exterior was completely upgraded as well.

The exterior was completely upgraded as well.

Replace it with rubber (lifetime opposed to 10 - 20 years with wax) and you'll be good to go.

The home also had a rough exterior including damaged and rotted siding.

e - Roof   f - Siding/brick   g - Foundation (this one can and will be the killer)   h - Windows and doors   I - Finish door/window hardware...inside and out   j - Exterior water drainage (there was none back then) and any damage done already (see "g" above)You said you estimating $3000 for rehab now. 

(tile, paint, flooring, light/fan fixtures, new toilets, new exterior paint/siding, granite countertops, stainless steel appliances, backsplash, new cedar columns and shutters) What made you interested in investing in this type of deal?

Since owning the property, I've added a laundry room to the 2nd back unit, created a driveway for parking, added a privacy fence with a small backyard, and painted both homes exteriors.

If the rent works out in the low 700's as opposed to $800, then its okay.