Hello all, As we're finishing renovations on the fourplex, I find that the thieves have stolen 3 of the 4 A/C condensing units and cut the copper lines on the fourth.

I'm in the process of buying a foreclosure that had the main circuit breaker (disconnect) stolen.

The copper was probably stolen :)But if there's any copper there (or maybe it's all galvanized), then an air pressure test as Mark Ferguson indicated is the best approach.

Kitchen cabinets destroyed, drywall has holes everywhere and gang signs, contractors trailer broken into and all tools stolen.

On my second property, I didn't do curtains, and the house got broken into and copper stolen.

The house was vacant for almost 2 months since it was the holiday season, during which time we closed on another condo in FL (also stayed vacant for nearly two months for the same reason), then the copper pipes were stolen from the vacant SFR which cost us $1700 to replace plus putting in an alarm system, then the new condo's central AC died, then another FL tenant wasn't able to pay the rent and left after 6 weeks - no damage, but turning over a unit is at least $500 - then another unit's AC died and another tenant gave notice that she was leaving at the end of her lease but declined to pay her last month's rent....Anyway...every landlord has had a bad stretch of time financially.

But you will need to adjust your NOI downward along with the price to reflect higher vacancy, higher repair costs while the tenants are living in the house (because they live hard and don't have any extra money to pay for the things they break so you end up footing the bill or kicking them out), higher turnover costs due to the previously mentioned lifestyles, and certain vandalism that will occur which includes, but is not limited to, stripped pipes, stolen hvac, stolen hot water tank, stolen wires, stolen kitchen sink, etc.

Had bad experience in the past when one of my house had the wires stolen during rehab.

Neither covers theft, as we discovered when the pipes were stolen one year.I'm assuming your $180 payment is monthly?

Well fast forward he does all of the above.. property peaked at about 80% after getting totally hosed and stolen from by GC he ended up having to send his local Portland guy out there one week a month.. so that's airfare hotel food for a week ..