Humor Thread - What's your biggest miss?

[Timur Salikov]

Funny story: I bought a 4 plex last year. The bottom unit was a spacious 1350 sq feet 2 bedroom. Old tenant was paying $850. After I did the binder method, she agreed to pay $1400 if I was to make some minor improvements to the unit. After we both agreed, she had some ex boyfriend drama that ended in a broken window and scared tenants, so I ended up telling her I'm not renewing her lease and I was gonna remodel that unit. She continued to live there rent free for 2 more months until her eviction court date.

I ended up investing 32K to completely remodel the unit. Unfortunately when I listed it for $1600 I got almost no interest. After a month going by I lowered it to $1500. A young couple really fell in love with the unit but could only offer $1400 max and I accepted. I'm still glad I remodeled it, we found leaking broken pipes in the wall and now I have an extremely nice unit I can rerent for more when they move out in a year or so. Besides, I didn't think the original tenant would be able to handle the new rent plus the headache of her drama.

What has been the biggest miss when you estimated rents vs the market reality?