If not, be prepared for the furniture to be in less than great condition - with one of my recent purchases, the furniture looked fine in the photos, but was very worn and in poor condition in real life; I replaced almost all of it.That's it for now!  

Never ever ever pre sell if you are not prepared to bow down to buyers requests.

and also site preparation? 

Once under contract, I validate all of my assumptions by getting an inspection, quotes, CMA ect to be sure everything is on point.When I have spare time and no deals to analyze or view, I keep up on latest market trends and strategies by reading up on BP and other blogs as well as latest building products or researching whatever current issue I'm facing in my business.I try to think ahead and get prepared for the next phase of my business. 

Suggest you get your state professional engineer license and get a contractor license to prepare the career change. 

Make sure you advise the tenant in advance what is expected of them in preparing the unit for the work and that not complying will cost them money.If the tenant has not prepared the property for the work to be completed and it costs you time/money bill it back to the tenant.

I really like the mindset of preparing for things to go wrong.

Rent only with leases and whether the tenant is a friend or not you will need to be prepared to evict if they do not pay the rent when it is due.

Tax preparation is complex, but TurboTax Software really takes the guessing out of it.

We will watch and see if the property comes back up on Hubzu, in which case, we may bid again, once better prepared.