Ensure you have an emergency fund for vacancies or repairs and verify market trends to confirm the investment supports your long-term financial plan.This post does not create a CPA-Client relationship.

Our ground moves quite a bit and $150 is worth it to see if there is a 5K+ repair needed.

Unfortunately, you may have a hard time enforcing anything about "guests" unless policy/procedures are outlined in your lease.  

Double check so you are budgeting correctly.Last, I would generally NOT recommend you use your Heloc for your repairs.

So one major repair can wipe out a year's worth of profit.

When market changes, even the most sophisticated sponsor could collapse.At the end of the day, it's better to become "active investors" where you know every single bit of your investment, your market, your realtor, your contractor, what's the actual repair cost, actual rent, appreciation and so on and so on.

Get the inspection but remember they are looking for hazards and not considering what repairs will do to the final value or monthly rent.

The house went through a full inspection with some minor repairs costing $1500.

Opportunities like this don't come along often and can be the foundation for your future.You just need to know what repairs are going to come due and when, and start learning about how to be a landlord.

I grew up in the industry and still have a hard time with holding contractors accountable.thx Adam - We agreed from the start that we would pay the $500 a month as they sounded great in an interview , go to town council meetings on our behalf , and do some in house work like put up blinds  and minor repairs that is included in that fee.