Sometimes there’s just maintenance costs with owning rentals.

who covers maintenance and damage?

Not sure if you're still looking for help since this was 3 months ago.You could include something in the provisions regarding maintenance in your rental agreement.

Increasing your rent annually is wise and having your tenants aware of that is important. 

So just curious if my number formula is correct $15k down plus $15k Reno = $30k rental income/year  $14500 vacancy rate 2% operating expensive 35% ( to cover condo fees maintenance insurance ect) $5500 a year mortgage so roughly a 12.25% cash on cash return ? 

I factor in 5% vacancy, 5 % cap ex, and maybe $1600 lawncare and maintenance for all 4 properties.  

Hello  @Thomas Sheehan,If your goal is to invest in an apartment where you don't have to concern yourself with maintenance and cap Ex, this deal (or perhaps another with similar rents and lower price) could make sense.The downside to deals like this is that your rents could eventually hit a ceiling as newer apartments (some with more amenities) become available.

FHA-Owner Occupancy Loan, to limit down payment to be able to utilize for maintenance

Does it improve the roof itself, or does it bring increased maintenance.

3/1 detached will have maintenance/cap ex in excess of $300/month over the long term in today’s dollars.