The aspect of buying and selling without the headache of repair, remodel or tenant issues is what I find the most appealing. 

With the mistakes that have already occurred, you are already costing yourself more than $500.00.Once the property is vacant and repaired, I would hire a local Property Manager to oversee it.

Lastly, don’t forget about the tax benefits, you can often deduct mortgage interest, repairs, and other expenses.If you need help navigating any part of the process, from financing future investments to managing your rental, feel free to reach out. 

I think I gave a partial refund once in 10 years for an HVAC unit that needed repaired. 

Here’s the background:Background:Property Ownership: In October 2021, my grandmother purchased a property in cash for both my aunt and me, and she also paid for all the repairs and renovations, which were completed in the summer of 2022.

The smell of mildew is strong.I know the repairs part...but the mildew smell and such will be a new challenge.Besides replacing the damaged areas, I was recommended to shellac the entire floors and spray a mildew solution everywhere.

Don’t be involved with those properties in ANY other way (management, lending, repairs, etc.) 

There are going to be three levels of addressing this 1) things you can simply go there and do anytime (pick up pet waste and throw it away) 2) things you can do given proper notice (enter the unit and inspect, repair damage etc) and 3) things you can only do given proper process/procedure (notice to vacate, increase rent etc.)

You can also have tenants submit repair requests through the site but I don't use that as I have good relationships with all of my tenants. 

Because of this they never charged market rent, so never had money set aside for capex or repairs.