@Leto McElveen you still need to do your basics. 

Heirs can inherit Roth and the gains remain tax free PLUS the heir(s) didn't have to pay taxes on the principle.5.

Even basic bathroom refreshes (vanity, fixtures, lighting, paint, GFCI) can run $4k–$6k per bath if you’re not doing all the labor yourself.

And for essentials, those usually mean basics like sheets and towels, which I believe you do provide since they are visible in your photos.Hope these suggestions help.

Essentially, they handle tenant placement, rent collection, and basic maintenance coordination, so you don’t necessarily have to hire a separate property manager for the usual tasks.

In addition to the notice that is on the back of the application regarding "renting as is, no additional cleaning or repairs without written approval of PM" and other caveats, I also explain the actual process, basic factors for approval, the documentation they need to provide, cost and payment method for application and for move in should they be approved.If they have not followed all of the instructions, people with poor attitude and that are non-compliant are not a protected class  under fair housing, and they may be disqualified.

The homes are a little over 100 years old, held together by duct tape and paint and would really need a complete rehab to the tune of $70/sqft (which is basically what they are worth in total).

It's basically one form but then they wouldn't HAVE to be on the insurance policy.

Basically you make that document is part of due diligence in the sales contract just like a home inspection. 

I do see that in order to keep up the depreciation losses you would need to buy annually - basically by front loading the depreciation you'd cancel out depreciation in the coming years.