On some things they are very light. 

Needs flooring, AC, Paint (int and ext), appliances, landscaping including retaining wall, master bath and 2nd bath remodel, 7 new windows, lighting, fixtures, and knobs (roof is acceptable and just needs minor work).  

That's when the light turned on for me and I "got it".

I do have a couple suggestions though...1- Maybe a motion detector like a light but attached to automatic sprinklers on a short timer.2- You said a fence would obstruct views but if it isn't a huge yard.

We are wanting some kind of light tan color for the walls and white for the baseboards and trim as that seems to be the standard now.

No, you don't need a license to invest, but your plan really isn't "investing" it's operating and having a license takes you out of the black market type of dealing  into the light of day.

People will of course present their property in the best light, so that 12% CoC might be less.Inspections can also reveal a number of surprises, even if everything looks good-to-go on the surface.

It's a list of what items the contractor is supposed to use for reference when a light bulb to the carpet is in need replacing.

I will soon add information about the plumbing fixtures and lighting fixtures too for each unit.Our rent register is a paper columnar pad and has been for 20 years.

My team and I have our own system of finding tenants and managing properties, so I can't say anything about how other property managers run their business, but your $3k repair number seems light on rehab and $1,200 seems a little high for rent, IMO.And don't fall in love with this property because it's a brick house.