As long as everything works (lights, plumbing, etc.) and there are no hazards (like an open ground) the big things are peeling paint (particularly on window sills) and smoke detectors.

@Peter TrifanI agree with @Gino Barbaro, the more insurance contacts you have, the better.Last time I got insurance quotes, I reached out to the main brokers in the area and the local lenders to see who they recommended.

Look at real estate professional status closely, this area of the tax code(section 469) is where I think If you worked with the right real estate-focused accountant you could save 100s of thousands of dollars. 

This financial strategy enabled timely project execution and ensured the necessary resources were available to complete the renovations.

Take your time and do your due diligence.

I hate to tell you this, but it's definitely lawyer time.

Big 3 is an intricate part of the history. 

I am the oldest of 5 and a full-time college student.

Hello, I’m sure I do not have a unique situation but it is the first time for me.

You can either make your new lease expire at the same time as their old lease - so you can modify your rental rate then; or you can bake a new rental rate into your lease at the time their old lease would have expired - so something like "Through X date your rental rate is the old rate, and beginning the next month your new lease rate is X $ more.All the best!