A good rule of thumb is to have at least $5 to $10K in reserves per unit to cover these situations and avoid financial strain.Thank you for the reply and help!

Here are some tips to help you negotiate effectively:Know Your Numbers ColdBefore entering any negotiation, understand the financials of the deal inside and out.

So yes, at one point or another (and fairly soon) the government (local/state/federal, "big" or "small") can coerce clean up.Your scenario depends on responsible owners/insurers with assets, Jim.

2) Subsidizing rents:- S8 and other programs statisitically only train tenants how to be dependent on the free handouts.If you really want to make a difference, try basic financial education for tenants and the financial demographic they come from!

Assets - you need these, or you need partners.

Though Buildium has its limitations, its financial tracking is quite robust.

Account Closed said, income and assets are the only "hassle" with a conventional loan.

but selling a trophy asset in a great area and then dumping the proceeds into money pits just because of paper math... would not be my step 1.hope this helps

Greatest financial pitfall when owning a rental property is vacancy time.

I think new builds in such areas is a great idea, but financially it's very hard to make the numbers work since you will probably have a very hard time finding comps.