Hi Simon,If you have a boiler, you might want to understand its parts and how it works--in detail.There are steam boilers, and water boilers, water tube systems, and fire tube systems.They all have different parts that can fail, and some have redundant parts to keep heat on if there is a failure and some don't.If you know your stuff about this big ticket item, you will be less likely to be at the mercy of an overcharging repairman.Just my 2 cents.Good Luck!

If Buyer chooses to seek financing, Buyer may do so at Buyer’s sole risk and expense by submitting a mortgage application to a mortgage lender or mortgage broker within five business days from the date of this Agreement, but the failure to apply for or secure financing in the amount or time or terms desired by Buyer shall not excuse Buyer from timely performance of all obligations under this Agreement.

However, it seems that people think that a BRRRR property shouldn't be your first investment property as it takes a lot of work.In your opinion, what are some things that I need to do to make sure that my first BRRRR property is a success and not a failure?

If it takes me three weeks to find a tenant, I charge the old tenant for the additional three weeks of vacancy caused by their failure to allow showings.

Terrell Garren all insurance seems to be partly a scam anymore, with them expanding beyond emergencies to covering less emergent issues but not doing it well, I wish there would be more maintenance plans that inspect and catch issues early than cover failure but I guess that is what I have to set up for myself.

most banks or HML wont fool with that low of loan balance.. local banks will for local clients.. but rarely for those that live out of market. too big of risk of failure in those low values assets.. they know the risks.

If so, then that should transfer the authority to you to file based on the tenant's failure to adhere to lease terms.  

It has links to your state laws so you can (and should) read them for yourself but it also includes summaries of important laws like how to handle security deposits or evict tenants for failure to pay rent.

Don't think that one particular out of state market will shoot you to success or abject failure.

I reviewed the lease and the first part states they will take immediate legal action for failure to pay rent.