To protect yourself, consider covering the electric for now, keeping a record of any payments, and adding them to the total owed when you file for eviction.

Our insurance did not cover moving the tenants out along with their temporary housing.

This "house hacking" approach lets you live in one unit while renting the others, helping cover your mortgage and build equity more affordably.

If you just say it was a "bad" wholesaler/contractor/partner that doesn't cover accepting responsibility for what you should have done differently to vet them, manage the partnership etc. 

I’d suggest drafting a solid agreement upfront that covers everything—ownership percentage, costs (mortgage, repairs, utilities), how profit is split, and even exit strategies if one of you wants out.

Hey so I just closed on a property in Polk County FL my mortgage is $1535 average rent in the area is $1500–1800 I have a freshly renovated house with 3b 2 ba 966 sqft I listed it on the higher side since it’s remodeled for $2100 I only had one person reach out to me and they were telling me the price is to high and I have not had any applicants I just paid for advertising on Zillow today and I posted the property yesterday I cover water and the property comes with washer and dryer hooks, loose pet policy and there is a laundry mat directly behind it.

A property may look good on paper in terms of appreciation but might not generate enough cash flow to cover expenses and build long-term wealth.Not Having a Backup Plan:If something goes wrong in any phase, such as a longer vacancy period or higher renovation costs, it can disrupt the whole strategy.

The rent doesn't cover our mortgage completely, but covers a good 2/3rds!

This means a lot of units are sitting, and we're seeing a lot of price reductions, lower offers being accepted, sellers willing to help cover buyer closing costs, etc. 

But I'm hopeful that it's one leg of the stool for me that kicks in some business, and while it's not great math, I'm glad that I have already had the cost covered by transactions from leads.