A hot housing market might allow you to refinance without extensive rehab before the tenant leaves.

LIke how to get rich in foreclosures right now would be pretty tough to do since they are non existent.. or in a uber hot market like now.. owner financing or the super duper lease option niche these all work in heavy distressed economy cycles but pretty tough today.  

The slow period Q4 2023 was slow but hot compared to years past. 

I have a couple of prospect properties I would like to tour and get a better SOW for the Rehab, however because of the still someone hot market we are in realtors are not taking me serious as a potential client and tour the property without a preapproval letter, however the Hard Money Lender will not issue me a Preapproval letter until I get a better estimate of the SOW and come up with a plan on how I am going to do the project which I can't do without looking at the property first with a Realtor. 

Water is now so hot they must be having a steam bath inside the bathroom & I found that the chrome coated shower rod started to rust from so much residual water vapor.

So you need to be out there finding the next house, finding money, arranging financing, networking, finding the next hot neighborhood, etc...

Likely the roof and the HVAC/furnace will be the biggest expenses that might occur but a hot water heater here, a clogged toilet there and suddenly the bills start adding up.

Quote from @Rod Joseph: Originally posted by @Chad S.

Hot tip.

No turnover, no replacing the roof, the hot water heater, the broken AC, no vacancy, no tenant hassles, etc… pest control, electrical issues, plumbing issues, septic issues, no renovations from wear and tear (you get the picture).