New tenants expect skuffs on the walls to be addressed and for the apartment to be generally clean.

I signed a contract at the beginning with a GC that was more general than I wanted considering the large price tag, but he kept saying that he couldn't make it more specific until they busted up the concrete to see what was really going on (lots of unknowns due to age and character of building).

I know a lot of homeowners would like to do the work themselves and turn a profit on their investment but generally lack the finances, knowledge, etc to do so.

Read your agreement first, there's generally a notice that will need to be provided.Best advice, it's just business...and treat it as such.

Ron S,  I am RE broker, with experience in short sales, familiar with Los Angeles rent control, reap, code violations, I am a Licensed General Contractor,  I can bring an offer to any asset manager, but I have no experience with REO, If i get a listing today, i would not know what is the process.

Generally accepted contract (look at the lease people sign daily with apartments) "three times" means overnight stays.

I think this post is generally right in concept, but far from accurate.I am a realtor, only work in C+and above areas, where I feel safe walking around by myself, and I still find properties for my clients around 100k. 

To be honest, I'm a little worried about investing in King County in general.

That means not just having physically been there so I know the in-person vibe, but everything I can possibly know about the general area, the demographics, the rents, the history of an area going back several years, any planned development or investment in the area, etc. 

With every rental comes a sizable security deposit that you will hold onto for generally a year or longer.