In both cases, the tenant should be educated on their responsibilities and held accountable.Even if the water source were a leaking pipe or roof, you should be able to identify the problem, dry it out, and remove the mold professionally within a few days and then the problem goes away.Simply accepting the tenant's claim - without verification - and allowing them to break the lease without penalty is a bad policy that will cost you much more in the long run.

Overall wholesalers are not held to any standard so you need to be careful and engage an attorney or realtor to ensure you're not getting scammed.

The net worth impact from a rental is calculated by taking the value of the underlying asset (a home worth, say, $500,000) and subtracting the liabilities held against the asset (ignoring retained earnings).

We held as primary for a year and STR for 2 years filing the appropriate tax declarations/forms etc. during each stage.

Now this is held against the expense that you have on the property (mortgage, etc) but claiming your deductions is a MUST for Fannie/Freddie loans.

I like going all in with a bloodied head and my heart held in my hands 🙌 Hello Engelo,What do you mean by "when you grow up"?

Total cost was about $40K, but I was cash flowing ($40k/y) those 2 years and 1 day I held it (net $40k).

I would also recommend seeing if there is a local REIA held in your area. 

Without that you can be sued personally for any issue within it on your str.Its much harder for people to pierce the corporate vail and sue you personally if your property is owned and managed in a LLC .Financing is one of the only drawbacks as it is a commercial process and banks usually like to see 3 years of a decent tax return.We have 19 properties and all are in an LLC and in fact we only hold 2-4 properties in each LLC (all are owned by one parent company and done in one flow through parent company)to even further shield the liability that may/can occur on a property.There is no doubt you are exposed to higher risk on many fronts if an investment property is held personally.

Also, the tenant is being given 30 days to vacate with 10k$ being held in escrow.