As others have said, used a R/E attorney for the closing.This is not a step by step process, but here are a few things you need to check into if you have done so already.1. title insurance  2. property/liability insurance.  3. occupancy permit/rental permit  4. zoning or health violations  5. liens against the property 6. property tax and water bills are paid  7. smoke and co2 detector certificate.  8. is it city water/sewer or a well water (well water = title 5).  9. inspection 10. appraisal These are several quick things that come to mind, but most of these should be done by a r/e attorney. 

The market I want to enter (Jacksonville FL) is smoking hot right now with good apartments trading in the 6 cap range.  

Dark, like what is in my house, shows every scratch.

REI is a numbers game, and the important numbers are NOT the ones with street names behind them...they are the ones with $$$$$ in front of them....Positive $$$$ signs.When the smoke clears...leverage wins.  

The colors were simple Navajo white, cheap dark laminate flooring, light blue in the the bathroom, new fixtures, new water heater, new A/C so that the main systems are good and I don't have to worry about them for awhile.

.- All batteries shall be replaced in all existing smoke detectors/carbon monoxide alarms- Missing door stops shall be installed on all interior doors- Provide 3 Glade Pug-In's per home- Broken, painted or mismatched outlet cover plates and switch cover plates shall be replaced- Check all wet areas for leaks- Caulk all sinks and tubs as needed- Replace A/C FilterESTIMATED TOTAL - $2,945.00The house is located in Winston-Salem, NC.Thanks for the advice.

A lot of the negative things she self disclosed turned out to be smoke screen for the things the credit bureau told us.

YOUR LOCAL HOUSING AUTHORITY SHOULD HAVE A LIST OF REQUIREMENTS FOR THE UNIT SPECIFICALLY, SUCH A S SMOKE DETECTORS, BUILDING UP TO CODE, SECURITY LATCH, ETC.

In my opinion the deal needs to be smoking hot cause of all the fees and high interest that comes with a HML plus risk of paying it all back in a short amount of time. 

Welcome to the dark side of landlording.