Nice work. 

It depends on what it needs and what the marketplace expects as far as quality of property.Personally if the place is empty when I get it Like to rehab to a nice level for two reasons.

There are multiple ones and they're nice and streamlined with you getting the signed certification letter via email within 24 hours "if you qualify".

It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees.

Its a class B building in a nice area.

Had a nice list of properties picked out and traveled to Memphis to physically inspect them.  

@Arie Van Gemeren nice post and a beautiful property you have there.

Upon move out there 2 places (in separate rooms) that have noticeable scratches at least 8 inches or so long (almost certainly from dragging heavy furniture). 

I found the appendices nice to review as well @ http://www.crushingit.info/appendices.html

@Jay Hinrichs  I have a few rentals already leveraged at a modest ~60% LTV, and my W2 is with the military and due to living frugaly I am able to save ~3k/month from the military income alone and have more than enough cash reserves so I am not worried in the least about being overstretched and unable to pay the loan.Even if you are able to buy a property at a discount, a 25% downpayment is still relatively expensive so the ability to avoid that problem would be nice.