Landlord and property manager: I’ve been thereWhen I’m in need of some amusement, I’ll occasionally browse through real estate investing forums to see what’s being discussed.

Aka treat it as a full time STR and only stay in it occasionally in offseason, then over time stay at it more often as it makes financial sense.

If they bank doesn't think its worth more than 108K (which also seems bloated given the other appraisal) why would you pay that much more?

What I see, is cheap debt that won't last forever, and occasional below-market value deals that are too good to not act if you look hard enough. 

Usually too expensive to work on average rental properties.Type 3 (Average Quality, Average Price)May build an occasional garage or addition, typically focused on remodeling and maintenance work.No advertising, the contractor is the sales/bid staff, no design services, office support is typically wife/girlfriend/mother.Low overhead leads to markups of only 25%+.Bids: Difficult to get a professional-looking bid from them because they would rather be making money working, instead of spending their time doing bids for free.Comment: Contractors that are perfect for medium/low-end flips & rental properties.

Occasionally, but not regularly.Why in the heck would a tenant ask you this question?

You should definitely have good reserves per rental property which will help take some of the stress out of vacancies, damage, evictions etc, which do come up occasionally. 

During Covid, out of about 230 properties, five tenants moved out because they could not pay the rent.Five evictions in 15 years.The average annual maintenance cost is between $300 and $400, excluding the occasional water heater or air compressor.Below is a map showing where some of our client's properties are located and the green area is where we find the most conforming properties.

Most of my rentals don't have anything but the occasional fly, spider, or mouse, so tenants are responsible for it just like I am at my own house. 

Other than that, the occasional gift such as a bottle of wine or cookies to thank them for being a great tenant is always appreciated.