What if tenants typically pay one-off and not recurring (I have a long term vacation rental - tenants stay 1-5months).  

We ended up asking for explanations for several categories on the T12 in an effort to figure out what was an improvement vs what is likely to be recurring expenses, then I re-ran my spreadsheet with those numbers to make sure we still wanted to purchase.

In my opinion, the latter is more effective and the best way is at your local REIA, platforms like this, and/or using data to identify frequent and recurring buyers.

We use Dinger (doorbell cam) and Flooder (floodlight camera) wifi cameras from ICRealtime since there is no monthly recurring fee and they are commercial quality cameras.

A lot of the Mortgage/Interest payments are recurring and comes out directly from the Owner's bank.

,, maintain/repair, Reserve account, and any other recurring expenses you have.

Creating the LLC they usually charge me $200 or so, it’s very low barrier to entry and recurring cost.

This next thing I will say is strange to me because I have not ran into before or after , probably will once I get the other properties, but the one thing that was a very strange recurring pattern for me were individuals with a sad story of circumstances ready and willing to pay 3 months of rent and also 3x the deposit we were asking for....but I filter that non sense and headaches out quick once I directed them to fill our application. 

What I mean is, even if the property has been recently updated, you should still factor in your recurring costs for vacancy, capex, utilities, etc. before pulling the trigger. 

In addition to the Management Fee, the Manager Compensation for supervising and administering any and all expenses incurred in any way related to the property (including, but not limited to maintenance, repairs, capital improvements, non-recurring expenses, minor alterations, insurance claims for loss to Property, and insurance proceeds received for a loss to the Property and its repair):a.