Once, a tenant left a massive stain on the rug beyond repair.

The landlord is required to repair EVERYTHING!

The partner will help with holdingf costs, closing costs, repairs and get half of the equity.

@Ludwig Koeneke There is an appraisal form type that you can order which gives both the AS IS value as well as the After Repaired Value based on the scope of work proposed that you submit. 

Start by thoroughly evaluating leads for profitability, calculating ARV (After Repair Value) based on comparable properties sold in the area within the past six months.

Renovations and Repairs- The property is  a ~100yr old brick  building and will require some work before its rent ready. 

He did the repairs and remodel himself.

Using these, you should be able to get most maintenance issues addressed in less than 90 days.One other thing, different tenants prioritize different repairs.

However, for me, I would rather just pay someone and not bother with finding tenants, dealing with repairs, etc. 

I usually suck up all the plumbing issues with LTR because I know it will just waste my time and of course plumbing is the most expensive repair every single time.