I've read that pretty much every major component needed to be replaced...

There are all kinds of deals out of your back yard you will discover here on B/P. or somewhere I am sure.

You would think a normal property management would have walked the unit and discovered it (especially when they claim to offer a free initial inspection).  

: What are the components of a mortgage, is it only interest, principal, tax and insurance?

Ceiling fan in living room does not work; light works, but not fan component 3.

Also places like Prosper, Discover Personal Loans, Lending Club, etc have fair rates for little loans.

BP has great meetups as Marlon said and a lot of other great resources as you're discovering.

As it turned out with the first note, I ended up placing forced placed insurance on the home after several letters requesting proof of insurance were sent to the borrower with no insurance info provided.The reason I asked this is that it would just be my rotten luck that the house would burn down somewhere between the time that I discover that the borrower was uninsured and the time that I was initiating forced placed insurance.

Discover what YOU LOVE to do, and follow it.

I've discovered how to add value to my rental.