Running rentals alone---- Dealing with discouragement

[C Rutherford]

So I put years of work into renovating a couple run down buildings to provide apartments for people, did all the work myself and then was laid off my job.

Since then I've been pursuing this dream of being self employed before its all over. I have 5 units in total and can't afford any more.... but have found since with tenants its just been one crisis and drama to the next endlessly. 
They come and go like musical chairs. I just had one bolt mid lease leaving huge amounts of garbage I have no way to dispose of.

As I'm struggling to clean up and renovate hers, the guy in the apartment next door tells me he's moving to 'a better neighborhood' because someone broke into his car out front. He then proceeds to say the tenants upstairs have 'destroyed' that apartment and it will need to be gutted when they leave, hey says they are filthy and have brought in roaches. I paid for an exterminator I say. Well they're back.
Who can tell people how to live? They won't listen, and they won't clean and I'm not their maid.
I background checked extensively, this was a big surprise.   But they're the only ones staying and paying rent! And I had put so much work into their apartment, new carpet, painted, fixtures and on. Now its destroyed.

The amount of take home pay with the 5 units is practically Taco Bell wage after all the taxes insurance and expenses.
I know well I need to do more; I'm just getting by but can never get caught up.
I have big items backing up now like a garage roof tarped I can't afford to reshingle, a back fence falling apart at my own home, leaning trees that need taken out.... All waiting until I can start a second income, but where is the time?
Now I have to renovate two more apartments which will set me back two more months.
The family is merciless they tell me to 'go get a job' if I have money problems, friends act jealous.... and everyone on line hates landlords.   My family has no tolerance for my wanting to be self employed, to me going back to a full time job is giving up and they completely ignore that.   But I can't find anything else I can do on the side for income that is self employed, that works.

How do people deal with the discouragement? I have no choice but to go on but its just so discouraging doing all this alone.   And what are people doing for additional money, besides just going back on the wheel and working for someone else.   Because to me if I have to do that, I may as well give up on all this altogether as a failure and go back and sit in an office cube until death, lol.

[Ty Coutts]

Hey man,

It sounds like you're going through an incredibly tough time. The challenges of managing rental properties on your own, especially after investing so much time and effort into renovating them, can be overwhelming. Dealing with problematic tenants, constant maintenance issues, and the pressure from family and friends who don't seem to understand your vision can make it all feel like an uphill battle. It’s discouraging when tenants don’t respect the property and create more work for you, especially when you’ve put so much into making these apartments livable and welcoming.

One thing that might help is considering professional property management. It can be an added expense, but it could save you a lot of stress and time in the long run. Property managers can handle tenant screening, maintenance issues, and rent collection, freeing you up to focus on other aspects of your business or even new ventures. This might help you get a bit of breathing room to address the bigger maintenance issues you mentioned, like the garage roof and leaning trees.

It’s also important to find a support system, whether it’s other landlords who understand what you’re going through or a mentor who can offer advice and encouragement. There are online communities and local groups where you might find like-minded people facing similar challenges.

Exploring additional income streams that align with your skills and interests could also be beneficial. Since you have experience with renovations, perhaps offering handyman services or consulting for other property owners could provide some extra cash flow without tying you to a traditional 9-to-5 job.

Dealing with discouragement is tough, especially when it feels like the world is against you. Remember why you started this journey in the first place and focus on your long-term goals. Small wins and progress, no matter how incremental, can help keep you motivated. Don’t hesitate to seek professional advice for financial planning or even emotional support if things feel too heavy. Your vision for self-employment and independence is valuable and worth fighting for, even when the path is difficult.

[Scott Mac]

Maybe learn to DIY some of the things yourself.

Have you thought about trading the fiveplex for a Class B duplex in a Class B neighborhood and move into one of the units and rent out the other??

Just my 2 cents.

[Caleb Brown]

I would get job and do this on the side. You need consistent income. 5 units is not enough to keep you afloat especially with your situation. I would also get a PM to help. What do you owe vs what is it worth? If the units are occupied what would it bring in? 

[Brady Grubb]

It can be discouraging at times and sometimes you have to take it on the chin all at once. If you have owned the properties for a while, take a look at appreciation and loan pay down. Realize how far that you have come, and look at the projected next 10 years to see what you may have coming. This is usually what gets me excited again and ready to tackle the issues head first and get back on track. You cannot change tenants and unfortunately most will not treat your property like their own. At this point maybe it is time to seek a GOOD property manager or at least seek advice from one. A GOOD property manager can go a long way, and potentially save money/discouragement that you are enduring. As for going back to work, I had a very successful investor tell me that you need to have constant cash in the beginning of your REI career. Whether it be from flips, wholesaling, or even a W2 job. If the rentals aren't performing well, you'll have a steady income coming in. There will always be problems that arise with rental properties, but having a regular income to dip into if needed is important. As more properties are acquired and cash flow grows, this mindset may change. Stay focused and in 10 years you'll be glad that you kept up with it. Good luck with your endeavors.

[Account Closed]

Hey CR, I’m just commenting to show you some support. As a property manager for over 5 years, I definitely know that it can be a tough and thankless job at times.

There are specifics in your post that I won’t go too much into here, but I think a professional property manager would handle some of these situations differently.

Management tasks like enforcing lease agreements and handling delinquent rent can be difficult, especially when the tenants know you are the owner/operator. They can also be more taxing when you haven’t dealt with those types of situations before or frequently.

Keep the faith – not necessarily in this property or even in being a landlord at all - just in that there is always opportunity and every moment is a new moment.

It sounds like you’ve worked very hard, and you should take pride in that.

[Michael Smythe]

@C Rutherford you may not want to hear this, but:

YOU CANNOT SURVIVE OFF THESE 5 RENTALS!

So, you need more income:

1) Day job
2) Wholesale real estate
3) Flip real estate
4) Can you do handyman work for other investors & Realtors?
- Great way to network!
5) ?

Also, your screening process either needs major improvement or your units are in a Class D neighborhood - and this is the tenant pool you have to deal with.

Why don't you "shop" your local competition and at least see what competitive units look like? What is their showing & application process? 

Join a local real estate investors group to learn more.