I have actually been thinkin about cutting losses honestly, I am not sure this is the best investment I could have made as my first but worried about how much of a loss I would have to take.It is meant for S8 for sure, I would have a stringent application process, and give the neighborhood a C from my research.I invested there because it was the first deal that basically fell on my lap where the mentor works with agents that Seller Finance deals, it was only $3k down and had thought the proximity to St.Louis would be attractive to tenants also.I effed up on waiting to post for rent until after all repairs and the COO for sure.  

You will take care of repairs under say $200 or $300.

For instance tenant responsibility for up to $500, $1000, whatever in repairs before landlord responsibility kicks in.

The study could also identify the opportunity to capture additional benefits such as dispositions, and repair and maintenance expenditures.

You will attract all scumbags in this world and soon find out your repair and legal cost will easily pass your yearly income.

Hey Steven, Great question, and it’s smart that you’re thinking ahead about protecting your investment.

If she could put $40,000 in to it and sell for$180,000, then she would be $50,000 ahead.

I am NET cash flowing just over 1k (includes maintenance, repairs, cap-ex, vacancies, utilities), which is pretty good considering this is in SoCal.

To stay secure, I’d recommend saving 3-6 months of mortgage payments, budgeting for repairs, and possibly investing in a home warranty.

Learn repair costs asap.