If you will be leasing be sure to get a good maintenance clause in your lease.

I’ve been in the industry for several years, and my work has given me a solid understanding of property systems, maintenance, and what makes a home a great investment.I’m now looking to expand my own real estate journey by learning how to acquire and manage short-term and long-term rental properties.

So far, Board hasn’t spent the funds from 2023, but they also didn’t move funds back to Reserves after it was pointed out at the annual meeting that the funds are in the wrong place. 

I used it to list my properties, screen tenants, manage payments, send notifications, manage maintenance.

I hire local professionals for inspections and cleaning, but even then, I’ve run into issues where things were missed because I wasn’t physically there.3.Tools: I use software like Tenant Cloud for rent collection and maintenance tracking, but no tool can replace having someone who can physically check on properties.

Pay Down the Loan Faster:I’m considering applying $40,000 annually to the loan principal.

In addition to your down payment, plan for closing costs (around 2-5% of the purchase price) and set aside at least 3-6 months of expenses for repairs, maintenance, and vacancies.

Pay for maintenance.

There are also ways to go about mindset shifts if that's a serious issue, but I don't know, it sounds like you've spent time with this property, you know all about it, and you have a bunch of other stuff going on in life.For instance, you decide not to raise rent all the way to market rate....This is probably a good move if you hate maintenance calls and your tenants know to handle some maintenance themselves because they are getting a bargain deal.

Be sure to hold a hefty reserve to handle on-going maintenance, capex, taxes, and insurance.