Quick concise summary:
-Purchased 3 properties for $90k early last year
- Only made $3k in this first year due to evictions, rehab, repairs, replacements due to theft
- Recieved notification today theft of appliances and water heater at one location where tenant was literally initially taking possession. Horrifying as we were just there 2 days prior.
- Shortly recieved notification other property had roof leak through to kitchen. Inspection of roof shows hail damage. Deductible for insurance $5k.
My question: with only 3k profit last year and all these situations that arose today, would you sell these properties and cut recent losses and restore our sanity and faith in humanity OR hang in there over a few more years to try to recoup money? Any insight is sincerely appreciated.
