Under normal circumstances a fee to manage the contractors and construction process seems appropriate, but one of the GPs owns the construction company that was used for the renos.

I can estimate most of the cost, taxes, insurance, utilities, PM fees, and such and I know that should be provided in the expenses but when it comes to the actual maintenance of the property, what strategy do you normally use?

Sounds like the Buy here pay here car dealers that get a large down payment , wait for the customer to default , repo the car and sell it again . 

If you can't afford a trailer, you sleep in your car.

For me personally, it sufficed to have my "normal" homeowner coverage and require renters to get their own.

Normally, I'm always opposed to selling anything ever. 

So true...I just got my bill for the last quarter and it was back to normal.

Hi Bp,I have a tenant that started working on cars at the property we rent to them.

Hi @Karen DiNapoliGood question.In my opinion: it's all about the cash flow, not necessarily about the taxes or the other expenses.So for example, I live in the Philadelphia area and in West Philadelphia the taxes are lower than they would be in the county outside the city where I normally invest.

We don’t fill the gap haha we create the “gap” aka normal money to close.