I have read and gone through a few of the forums, I listen to the podcast daily on my way to work, and have started buying real estate books to further educate myself.

I'm currently watching podcast daily and have read rich Dad poor Dad.

Well there is a bad  time to invest, if one don't have the experience and  one could not borrow/obtain cash for reason or another, greed and overconfidence are bad to human, if someone would like to invest in daily basis without enough knowledge and cash will at the end of the day will destroy him financially.

There are things that they would be entitled to in terms of a price adjustment (in your example, if lumber prices skyrocketed for a specific reason beyond his control then usually the owner is on the hook, however, there are measures to limit this exposure).A contract can be drafted using the scope of work, estimate, and schedule (you can include liquidated damages - this is a sum (not a penalty) of what it would cost you if the project is not completed on time - think daily rent and storage rates). 

Hello All,I'm working on closing my first rental property and everything was going according to plan until the termite inspection revealed prior damage and higher than normal wood moisture content in the crawlspace.

So here is my daily routine.

Would i just refund them the daily rental amount for the days they cannot be in their units?

You have to bring garbage out daily to the trash.

For instance, my renter was annoyed by the renters of the condo next store, college students, who partied to the early hours nearly daily.

I have no experience investing in real estate, but I'm educating myself daily to begin my REI career in the near future.