I ordered a copy of the appraisal and noticed that the comps that were used were other foreclosures in sub-standard condition and also older sales and further away from my property than other available comps.

So I assumed this would be the standard.

I figure if, you are willing to take the first step by filling out the Application, then you are a serious tenant, who is ready to make a immediate decision if the place meets their standards!!

A new Energy Star clothes washer uses 35 percent less energy and 50 percent less water than a standard model. 

She says the house needs paint, flooring, an new deck, and possible mold remediation.

Also remember that there are standard closing cost related with any size mortgage.

Assuming management at 8%, which is standard from the few local companies, 8% for repair reserve, 8% vacancy, which may be a little high, insurance at $700/yr and property taxes, which are more towards 1.25% for Sac. 

Is this standard operating procedure for purchasing a rental property.

I haven't done any major marketing or anything but from the few I have contacted everyone seems to have standard process for selling there house which is via agent.I also haven't seen much around here for investing clubs or any of that.

The 'industry standard' for property management fee structure seems like it could do with a re-design.Thanks,Matt