You can’t pay the plumber or the ac replacement bill< or anything otu of your pocket.

I turned around and contributed over $500K to close the purchase of the two replacement rental properties.

For example, you may buy a property today and budget money for capital expenses each month for the next 5 years until finally you need to replace the HVAC.

"Dusk-to-Dawn" electric eyes and timers can be helpful, but don't replace personal surveillance. 

No matter what you do, you cannot replace the value of boots on the ground so the next best thing(in our experience) is spend some time down there, interview some potential handymen etc. and forge a relationship, we have multiple that we have connected with in person and when you make a personal connection with them they will take care of your property better, especially in an emergency situation.

Not sure it’s in the budget to add any more gold fixtures or a new island to the kitchen, but I may replace the towel rack in the bathroom. 

Example: replacing the bathroom vanity.My question: If I were to take pictures and a video of the thing needing repair and show it to someone at Home Depot or Lowes, would they be able to guide me on what to buy and what to do?

To repair the sewer line is not cost-effective so if you do it, you just do a replacement.

We're very happy with the cash flow and the dominant position based on replacement value.

Water heaters need replacing, bank errors occur, tenants move out, real estate bubbles happen, etc.