In addition you need to budget for maintenance/repair, capital expenses, and also to cover the vacancy/turnover the next time a tenant leaves you.

You can deduct expenses like mortgage interest, property taxes, insurance, repairs, and maintenance costs from your rental income.The biggest advantage is depreciation—this allows you to deduct a portion of the property’s value (excluding land) over time, significantly reducing taxable rental income.

It's a bit of a costly repair relative to the price of the fridge - they need to be replaced for around $500.

Just be mindful of FHA loan limits, potential refinancing delays, and keep a reserve fund for any unexpected repairs.

Government will inspect your property annually and most always find some items they will require you to repair.4.

.- Make sure the property appraises for the calculated ARV (After Repair Value) to get the best loan terms.- Consider the loan terms, interest rates, and any prepayment penalties.

The home would sell for around 460k right now with minimal repairs needed.

Buying from a wholesaler with only two properties under your belt could be a real problem as their ARV is always too high and repair costs too low, depending on how much you know to date.

I myself have done much of the repairs and have helped him with these properties for over 20 years.

But you need to learn all about landlord/tenant laws, how to do basic repairs, know what average labor and material costs are for common projects. learn about payment systems, how to interview property managers, tenants and handyman services, build a team of realtors, contractors, title, hard/private money lenders, inspectors, appraisers and soooo much more.