Various repair issues, bad tenant, and now this issue.

Based on the quality of this particular home, my rent estimate may be low.Note: you have to consider other factors.

You want not only qualified tenants (credit score, income, background checks, etc.) but quality tenants.

One of the biggest challenges of investing in Rustbelt cities is knowing where to invest and properly understanding the cooresponding pros & cons.Here's copy & paste advice we share to help to address this challenge:-------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

This meant I couldn’t pursue the driver personally and had to rely on their car insurance, which settled for $25K—their maximum coverage.Unfortunately, the crash added $77K in unexpected costs, including $41K in repairs and extended holding costs.

After owning the property for 1 week and putting in a lot of sweat equity, I've concluded that I want to keep the Inherited tenants based on the condition of their living space and the quality of the people, Knowing I want to keep them to save myself the headache of a  turnover and vacancy of a projected move out If I were to suddenly increase rents. 

What leads to the highest repair cost? 

More freedom to tailor your investment to the guests' needs.More privacy for the guestsSecurity and keys can automatedMore rooms for more quality pictures!

Subtract more for AirBnB charges, local management, repairs, cleaning, etc and there is not a lot left to pay the mortgage. 

Hi, Jaycee The deal makes sense for me after accounting for all expenses including vacancy, cap ex, and repairs.