If you don't plan on managing the rental yourself (i.e. changing the rooms between guests, sweeping, vacuuming, washing dishes, laundering the sheets and towels, etc.), then you'll need to budget for a property manager. 

This line item is for those known but unexpected expenses that always come up when you least want them to (new car battery, new washing machine, whatever).

Build what they need:I was at the front gate, scanning IDs, and I asked a sergeant how his weekend was. He

Then instead of depleting your money for let’s say a downpayment you borrow against the life insurance up to 90% of your cash value at around the same interest rate (making it a wash) to put into deals and you keep all your money growing in a guaranteed interest baring account while using low rate OPM to fund deals.

I'm also looking right in the centre of the city where the units are quite small so there is less area that could potentially require capex.Another nuance is that in Australia, washing machine, dryer and fridge are something that the tenant handles, so nothing would go towards this for capex.

I leave plenty of extra garbage bags (I want the trash bagged) plenty of extra TP, laundry and dish washing soap.

We just had our first bout of repairs (washing machine not draining and leaky toilet) 3 months in.

Developing a mixed-use project consisting of storage, hotel, QSR, and car wash...looking for any recommendations on retaining an independent underwriter with experience with development projects with multiple components. 

I personally like doing laundry and not having to worry about being home the minute the wash finished because some else might be waiting for the machine.  

I've been using an ozone generator for several years and it works well for light smoke odors:https://www.amazon.com/gp/prod...I recommend washing all surfaces, cleaning the carpets, and then running an ozone generator.