Soon To Be First Time Landlord, What Mistakes Am I Going To Make?

[Maxwell Milholland]

Hello everybody, I am not a landlord yet, but if all goes to plan I will own a two unit upper lower in which I plan to house hack in the next couple months. As with all things in life, no matter how prepared I feel or how much front end research I put in, mistakes will be made. My question is which mistakes are most newbie landlords most prone to, and how can I avoid them? Any tips, suggestions, or any advice in general would be very helpful. Thank you in advance! Just a bit of background info which may be relevant. House is in Buffalo, New York. 2000 square feet upper lower. Will be in good condition when time comes to rent out. Tenant pool to my knowledge is good hard working people whom I don’t foresee and issue with finding a reliable tenant. If any additional info is needed please let me know and I will provide!

[Steve Vaughan]

You are going to listen to sob stories and place leaching turds in your properties.

You aren't going to change those old vinyl supply hoses to your faucets and toilets with braided steel, thinking they'll never burst.

You won't put vinyl under your sinks and think that water feature in your fridge is a nice benefit. Until the slow leaks cause $40k in damage and you realize particle board is not good in wet areas.

You won't clean gutters or get proper downspouts that would've saved your basement from flooding.

Do preventative maintenance and protective screening!