I want to know the status of each item's condition when it's in inventory and as it goes out.

I provide rental and service of my lights and other rental items. 
Not everything that goes out comes back in good condition. 
When I receive it back, I can't have it as "Inventory On Hand". 

I would like to know "I have a Light on Hand, but it has a broken light bulb and can't be rented". 

Also, having a way to track the condition when it went out and the condition it was when it came back in as a rental would be great. 

Just a cool idea that I thought I would share.