Also targeted, specific CL ads are cheap and easy.

Do not buy something because it is cheap.

If its any consolation, back in 1998 when I bought my first house in the Bay Area it was scary expensive as well, although very cheap in retrospect.

We bought a fixer for cheap right out of school and lived in it for 5 years.

Sometimes a lender will use the phase one environmental report that the seller has if it's less than a year old.The phase one isn't cheap and cost thousands of dollars typically.If you have to go to a phase 2 that can run 10,000 or more with soil sampling etc.Even if a report is on file with the seller and the bank will let you use it you need to order your own. 

If the market crashes, that's OK too because now we can accumulate more properties cheap to keep for long term cashflow.

I mean cheap carpet alone costs over $1.50/SF installed if ur lucky.painting typically costs around 1.15/SF (costs spread over the total FSF of a house) assuming your hiring the cheapest guy you can find off craigslist. cheap laminent in kitchens and bathrooms costs atleast $3.00/SF installed.

I was excited because now I get to deal with real investors instead of tire kickers, which seems like the majority of calls I get.The August foreclosure sale included a property that was a borderline good deal, the house was well maintained and needed minimum work, but was a great buy for a cheap rehab and borderline if you took the rehab farther.

Why would a landlord be so cheap as to not install one, especially for a long term tenant? 

All kinds of little quirky rules.As far the labor for the set outs, I go down to our local drug recovery center, they loan me guys anytime for cheap.