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.

I started out with value add, where we force appreciated properties by adding square footage and beds/baths.

We all know what goes on in bathrooms and what kind of extra care they need.

In a perfect situation, the payment will still be delayed (even if by hours) using this additional system.And secondly, many of these vendors have "clawback" provisions where, in their terms of service, you give them permission to go back into your account - even weeks after the fact - and reverse a deposit that was made by your tenant.My system is simple, allows for tenants to pay through multiple means, and does not cost me anything extra.

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

Like maybe I could pull enough out from heloc on primary residence to pay off debt and then rent out my primary and use the extra cash to payoff heloc and then do another heloc once the original one is paid off.

I could see how purchasing before the rehab I could have added additional equity but then I would have had to manage the purchase and rehab from out of state.

I would be focusing on adding value into the homes you are looking at.

If they have nowhere to go or don't know how to find a next place, and no relatives who are helping them, you will be the only person that goes the extra step to help (even with advice) which means you will get the sale at a better price and help someone.

By nickel and dime-ing it I did not mean we were buying cheap or low quality properties, I meant we were adding properties as they became available in neighborhoods where we were already invested.