They even complain about hearing toilets flush and cabinets closing. 

I think - One person said to make sure I bring it to room temperature before installing.Also, Cabinets are a little old, thinking about just cleaning them up with some wood polish though - maybe line the insides.  

That $5k down payment disappears if they skip a payment and you have to evict, and I'm guessing painting a $500k house in Memphis would run you that- what happens if you have to replace the carpet or some cabinets?  

examples of things I have found and come up with: Staining cabinets and getting hardware, Deals on Crown molding on the secondary market, new light fixtures add a upgraded feel for cheap,French doors from the secondary market.  

We bought laminate for our first home there and for the basement rental it was tricky finding a kitchen sink to fit the small custom cabinets, but we found it at VJs.

Here are the numbers for this home 3bed/1bath with nice shed, fenced in yard:purchase price $60,000 CASH (seller pays closing)square feet 1047repairs: floors, HVAC, cabinets, painting ~$15,000holding costs while rehab is completed: 500Total investment: $75,500monthly rent: 800   -    yearly rent: 9600vacancy: 800Maintenance and CapX fund: $1,600/annualtaxes: $1435/annualinsurance: $900/annual (is 75$/month a reasonable assumption)I will manage the propertyI am looking at annual cash inflow of $4,600I recognize this return on equity is only %5.7. 

My trusts are in my file cabinet.

Cabinets, floor covering etc.

I purchased an off-the-shelf kitchen (cabinets and countertop) at Lowes which will go in soon.

I would like to know what everyone feels would be the max offer on the following:Location: DFW area5-PlexAsking Price = 270,000Owners remarks: Each unit fully remodeled w/stoves, refrigerators, tile, cabinets, appliances, showers & plumbing in 2008.