If they fail to pay, then you can choose to try eviction or just hold the charges until the end of their lease and collect it from their deposit.

Keep the wood (or sheetrock if you choose) an inch or two off the floor to not wick water.

Quote from @Unal Baris Kancoglu: Quote from @Corby Goade: Depends on the area and type of system you want.

Whether to start with single-family or multifamily really depends on your goals, resources, and experience.Single-Family Pros: Easier to manage and finance, especially for a first deal.

A HELOC is probably going to be at least 8% right now, so would you be making more than that on your money if you choose to take out a HELOC to fund the work?

I want to learn from experienced landlords here, how much deductible should we choose? 

Quote from @Jonathan Greene: Why did you choose Roofstock for a one-off investment property in the first place? 

Choose Multi-Unit PropertiesLook for duplexes, triplexes, or properties with ADUs.

You didn't mention where you are operating, but depending on average home prices, I think you'll be ok.For instance if we're talkin $500k homes, and if you will get a 2.5% commission, split that 50/50 with your Broker, you will end up with $6,250 per sale, right?

What do you normally look for in choosing a lender?