The fees are nominal.Behind all of them is a single business entity with a non-descript name.You'll need to consult a suitable legal professional from there.

And I never met a single one of them who knew how to make and keep a buck as well as they knew how to spell.

We do everything in a single Excel spreadsheet.The columns are: date   description   house   vendor   cost    mileageWhere house indicates which property it is.Mileage is any associated mileage for an item.

@Natalie Schanne's description is correct, but the word "profit" is not commonly used in this context.  

Recently, I met a man who owns multiple properties and some in the Bakersfield area.

This cost more at startup, but reduces cost over the life of the building, attracts the better tenants in the area ( even in the worse neighborhoods, there are good tenants), reduces turn over and vacancy.My comments and description of Building 2 must have made it sound much worse than it is.

If it has been on for awhile I can see an agent doing price drops and just changing the price and not the description field.

Hard to say with lack of description and pictures but can't you remove the textured paper and then paint? 

Right, but in Ron's description the reduction would be of only the principal received correct?

It's obviously specific to that particular market but a lot of the descriptions of asset quality can be applied to similar markets.