Damage, to replace vinyl etc, is likely to be relatively small of 200-300 dollars.Would you fix it, and then keep the evidence to take out of their security deposit when they choose to move out, or would you confront them with the evidence, and post a bill for the amount of the work?

As mentioned previously, all expenses directly related to a specific property to include mortgage interest and depreciation are taken on Schedule E for that property. 

The home inspection revealed probably about 6-8000 of total repairs that need to be done but very few related to the requirements for the C of O.

Then cold call the area for distressed sellers with a dialer+ data software like MojoSells or TheRedX.

My suggestion is to look for property in relatively good condition where you can get it rented right away." 

I'm researching online data for Victoria TX. 

Aaron McCarty if you look at the formulas/metrics in isolation then the numbers don’t mean much.The formulas/numbers is all relative, especially as everyone/business has different goals and risk tolerance.Compare the results to the alternative, example: compare the historical stock market return on blue chips to an A class area.

Get comfortable with all the components, data, and formulas needed. 

All of this is pretty darn relative.

- background Condo is coming out of an Estate Sale and needs work - recent market activity, data from last month, similar units -  (1) Estate Sale - As-Is - listed for $129,000 - sold for $134,000 - (2) Well maintained /Updated - listed for $149,900 sold for $154,900 - admittedly might not be looking at this correctly in that (2) might not be relevant - thank you for helping me