The plane ticket alone is more than the fine.

Assuming there are no looming big ticket items that I am aware of, would you/should I continue to save for reserves, or just maintain that reserve and replenish as expenses arise?

@Troy Luster I think he means he is setting aside 7% of gross rents every year, so that they'll build up over time for when big ticket items need replacing.Most investors set aside between 5-10% for ongoing repairs and maintenance, and another 5-10% for capex.

For example, the "Earnings" tab shows different numbers than the downloaded data does (off by a few cents presumably due to some rounding).

One-time Expenses$1000 - Acquisition Costs (minor rehab, legal, & inspection)Annualized Expenses10% Gross Annual Rent - Vacancy Costs (turnover & lost rent)10% Gross Annual Rent - Property Mgmt (standard)$1176 - Repairs & CapEx ($1 per sq foot for tpical property)$1516.46 - Property Taxes (5 year historical average for typical property + 10%)$1000 - Property Insurance (a nice round number: seller reported that he paid $708/mo for one duplex)$27 - Water & Sewer (average across several properties from last month)$0 - Gas, Electric, HOA, Snow Removal (tenant pays or not applicable)$60 - Lawn Care (I made this number up)COMPARATIVE ANALYSIS:This is my analysis of the five properties that are being negotiated right now, listed from best to worst.Property Alpha (two-flat)$1250 - Income, Monthly (actual)$567.37 - Expenses, Monthly (estimated)$42,000 - Price, Signed Contract36% - Cap Rate (Annualized Income / Price)16.6% - ROI, After Tax (annually, assuming 15% income tax)6.0 Yrs - Until this property pays itself offProperty Bravo (two-flat)$1100 - Income, Monthly (actual)$537.37 - Expenses, Monthly (estimated)$42,500 - Price, Signed Contract31% - Cap Rate (Annualized Income / Price)13.1% - ROI, After Tax (annually, assuming 15% income tax)7.6 Yrs - Until this property pays itself offProperty Charlie (duplex)$1075 - Income, Monthly (actual)$532.37 - Expenses, Monthly (estimated)$55,000 - Price, Informal Discussion23% - Cap Rate (Annualized Income / Price)10.7% - ROI, After Tax (annually, assuming 15% income tax)10.3 Yrs - Until this property pays itself offProperty Delta (SFR)$875 - Income, Monthly (actual)$492.37 - Expenses, Monthly (estimated)$48,000 - Price, Informal Discussion22% - Cap Rate (Annualized Income / Price)8.8% - ROI, After Tax (annually, assuming 15% income tax)13.6 Yrs - Until this property pays itself offProperty Echo (SFR)$770 - Income, Monthly (actual)$471.37 - Expenses, Monthly (estimated)$62,500 - Price, Informal Discussion15% - Cap Rate (Annualized Income / Price)4.1% - ROI, After Tax (annually, assuming 15% income tax)24.4 Yrs - Until this property pays itself offNotice how the price keeps going up?

I visit my out-of-state properties twice a year and it's more than $2.5K when you look at plane tickets, hotel stays, car rental, etc. not to mention there is added risk when you can't drive by your property from time-to-time.

Sometimes, they just see what they can get away with, especially with a property manager who will just blindly cut checks on any invoice that comes in. 

I would use it maybe 14 days per year, and it would be available for rent the rest of the time (ski lodging in the winter, woodsy get-away in the summer, leaf peeping in the fall!).

They should be taking care of all of the big-ticket functional items - roof, hvac, water-heaters, plumbing, electrical, flooring, sinks, tubs. etc.If they are just throwing down paint and carpet, then you'll probably have a high capex in the next 5 years.James

Get away undisturbed for a weekend?