What you wish you knew before buying your first rental property?

[Ingrid Mignott]

I hope everyone is keeping safe and well. I wanted to get some feedback from members about 1 or 2 things they wished they knew before buying their first rental property. My first rental was a townhouse house I lived in for many years, and I was the first owner, so I knew all the ins and outs about the house and the HOA maintained the exterior of the townhouse (paint, gutters, etc.). all the common areas and trees. So when I went to purchase my first property to rent out, I did the necessary checks with the A/C and electrical but did not take into account tree trimming, washing the exterior for Mildew, etc. These maintenance items will take away from your returns. So for me, I wish I understood the total cost of maintaining the home, keeping in mind that these will depend on the area the house is located. Where I currently live, I don't have to worry about things like Mildew on the exterior.