Add wood siding, nicer windows, sand in place flooring etc. and of course nicer finishes / kitchen and $200 psf is in the rear view.  

My agent said the bring in $2200/mth but have no other debt or payments.They are stressed about having to move (it would stress me out facing packing all that stuff up) and willing to pay more to be able to stay.I feel we just screen them like new tenants and if references check out I'm leaning towards continuing with them, although they are below the 3x rent income requirement.The property would probably need $3-5k in carpet and paint to ready for new renters so it would he great to have a good built in tenant for a while.Anyone have a situation like this go bad that can share some things to watch out for??

I think getting the prospective tenant to sign the lease as soon as possible after her or she has been screened is a better option. 

I did not budget properly for flooring and know it is not wise to pay 2-4$ per sf to refinish the hardwoods so they can be torn up in a couple of years so my options are a rebuff(screening) then coats of poly or laminate.

From their view point,  "your are joking, aren't you?"

Recently I've headed a group of newbie Chicago BP   investors that go out every Saturday to view properties and make offers using no money down lines of credit.

@Elizabeth Martinez,  based on what I've read and listened to, for time efficiency like @Christian Kenworthy mentioned, advertising sounds like the route to go for general motivated sellers/high equity, not necessarily pre-foreclosures, and start small with volumes that you can handle in terms of incoming phone calls to screen, then put them on a schedule of repetition and follow up over several months.  

I also do lower income rentals, so the turnover costs can be a bit prohibitive compared to the value of the house and I have to screen through a bunch of applicants and as a result it can take up to a month for me to rent one.  

You will get spreadsheet view, map view, individual listings, and all of the pictures for those listings.3.$10 a month I have a person who screens out properties that are listed every day looking for listings that are 70% below assessed values.

Recently I've headed a group of newbie Chicago BP   investors that go out every Saturday to view properties and make offers using no money down lines of credit.