You will also need to install a shower pan, a shower enclosure, and a showerhead.9.

All items must be kept neat and orderly.All heating vents will be kept clean and free of dust, dirt, and mildew.No noxious, offensive or foul odors are to be permitted to emanate either inside or outside the rental unit from any source, including but not limited to spoiled food, accumulated trash or debris, liquor and beverage containers, dirty laundry, sinks, toilets, bathtubs or showers.

Numbers don't always pan out on paper but numbers are also not stagnant.

.: @Ashley Bitner I've had mixed experiences in that even with a cleaner I trust, even with providing checklists, things get dropped inevitably because no one is going to catch those details as well as you (e.g. the nonstick frying pan that needs to be replaced, missing extra kitchen towels or remote, propane refills...).

Example:Repaired leaky toilet at 123 Main Street.

But much worse, there's no record at all of what you said, and what they said.This is not good from a memory standpoint, but can be disastrous if there is any kind of problem or dispute.Say there's a leaking toilet that destroyed the floor, because it was never reported for you to even address.   

How did you inform the renter that you are now responsible for rent, maintenance, repairs, clogged toilets etc.?

OPTION 1: OPTION 2: When Seller Uses RE Agent & You're Using Property For a Rental When Buying Subject To & Selling to Tenant Buyer Pro: Doesn't require specialized knowledge Pro: Little competition "Adequate" cash flow - Nothing Exciting Can be little $ down You get appreciation if property goes up Can do Unlimited number Can Get Started Much Sooner Get down payment (Cash $$) back immediately Great Cash Flow No Bank Approval Needed No Maintenance or Repairs Con: Have To Have $45,000 Cash for Down Payment Con: Have To Have $15,000 Cash For Reserves (just in Case) Have To Have $15,000 Cash for Closing & Carrying Costs Due on Sale Clause Have to Get Bank Approval Must learn the technique Can only do 4 -10 properties depending on bank Competing with everyone else Requires 20% Down & other requirements If AC breaks - you fix it If roof needs replacing - you pay for it If toilet clogs - it's on you If house gets trashed - you un-trash it You take loss if property goes down in Value Tenant Can Trash The House When Seller Uses RE Agent & Using Property For a Rental When Buying Subject To & Selling to Tenant Buyer Asking Price MLS $225,000 $225,000 Balanced Owed $223,969 $223,969 RE Agent 6% $13,500 $0 No Agent Involved Seller Brings to Closing ($12,469) $0 So No fees Asking Above ARV $0 $0 Seller Walking Money $0 $0 Sometimes Walking Money If I Use ConventionalFinancing If I UseSubject To Asking Price MLS $225,000 $225,000 Amount Down - 20% $45,000 $100 (I Give $100 Down) New Loan Amount $180,000 $223,969 I Take Over Loan Title Report $600 $600 Closing Costs $1,250 $1,250 Monthly Payment $1,151 $1,225 I Take Over Existing Payment

Are you panning to manage your properties yourself?

If your numbers don't pan out there, I highly suggest looking into turnkey out-of-state investing.