I am estimating less than $20k in repairs.

Even if you bought a property that needed to be rehabbed, repaired it and then held it there would be no issue.

However when the tenants sec 8 was cancelled they didn't pay rent and I had to evict them and it cost me $6000 in lost rent and another $5,000 in repairs and I had to do most of the repairs myself.

.- Need to process an eviction, handle court costs and vacancy and repairs.- Big repair item comes up (furnace, roof, etc.)

No routine painting, no repair and maintenance of the gutters and vents and exterior.

OO get first chance to buy in the first 15 days a property becomes available and if you qualify, you can get a homepath renovation loan if the property needs repairs.

Regarding repairs for example, if there are damages caused by the tenant, you should point those out to the inspector when he/she does the annual re-inspection.

Last month, I wrote an article about the big, ugly purple triplex I bought recently.We've been working the past month to get it rent-ready, with some new paint and various small repairs.

I've had some situations that are similar in nature and the Underwriter was always extremely helpful in making sure the policy didn't cancel due to repairs as long as the insured agreed to the repairs done within the extention time.

Built 1942ARV $100,000 +/-Purchase Finances$55,900 asking price (will negotiate)$2,500 closing costs$25,000 repairs (new roof, some plumbing, some electrical and kitchen at least.