What do you have in your lease about repair requests?

There are a ton of complexities with properly repairing a fire damaged house....they sell really cheap for a reason.

In Cleveland you can find below market rental ready duplexes that require minor repairs (keep in mind that discounted properties come with their own challenges).

Dealing with repairs, contractors, tenants etc is something I got sick off.A relative is renting out a garage in some empty lot and the thought crossed my mind of maybe buying some lot for car parking but I havent yet done any research on potential ROI on it yet.

Just document the current condition before the cleanup process and follow any other local law or procedure that is in your municipality. 

Assuming you sold the home at the end of 5 yearsYour NET ROI would be:0% appreciation: 10.93%1% appreciation: 12.13%2% appreciation: 13.33%3% appreciation: 14.53%This ROI calculation takes into account taxes, insurance, selling costs, repairs (calculated at $3500) through out the lease.

However, you can file Form 8832 (Entity Classification Election) to change the LLC’s status to a disregarded entity, provided you act promptly.If you don’t make the election, you’ll need to file Form 1065 by March 15, 2025, adding complexity but retaining the same tax benefits, such as deductions for depreciation and repairs.

For abandoned parks with infrastructure, some lenders may consider them as long as there’s a plan for the rehab and the infrastructure is in good condition or can be repaired.

Be extra careful with your policies and procedures in regards to Fair Housing protected classes! 

Having it solid in a spreadsheet instead of in your head or on notebook paper and playing with the numbers for the repair budget isn't wrong.