Cosmetic rehab (paint, carpet, appliances) which I did myself over Christmas vacation.

I think I could rent for sure @ $3000/mo but would need to find a higher rate just to break even when factoring everything in.I do not *need* to sell this house to purchase my next house, but it certainly would make things easierSo, wow. big benefit offer.

@Andy NathanIn my opinion , managing the repair and maintenance costs can mean the difference between being profitable long term versus breaking even or even having losses.

How confident are you on your rehab cost estimate as this is really what is going to make or break you.

The tenants are always breaking into the coin operated machines.

However, I would definitely break off contact once you're in some legal battle with someone unless you're trying to work out something.

If there is a liability claim (tenant falls and breaks a leg) the tenant liability insurance will protect you, as well.

This may be a loaded question, so I’ll break it down into different questions. 1) I understand electrical/plumbing must be done by licensed sub.

My calculation put you at 33 months to break even on the closing costs, BTW.I think HELOCs are a great way to tap into equity.

(Disclaimer: I posted this in the Virginia Real Estate forum as well and got little to no response so excuse me if this is breaking any guidelines.)New REI here!