With a full time job even 15 units gets tough between collecting rent keeping repairs up, preventative maintenance, looking for new deals, managing refinances, etc. 

One thing I want to be prepared for is repairs and remodels.

Seller would be open to creative financing since house needs foundation work.Asking 300kFoundation Repairs- $40k ( could be way less) ARV- $385 to 400k

From everything I hear the costs exponentially grow when a PM hires out your repairs/maintenance compared to the cost of you source the work yourself.

(Be sure to factor in vacancy, PM fees, maintenance, etc in addition to PITI)•Do you have additional reserves to cover unexpected expenses like long than expected vacancies, high turnover costs, or major repairs (e.g., HVAC or roof replacements)?

The person I spoke to was rude and unprofessional in replying to my emails and speaking to me on the phone.   

Have a robust cash reserve to handle unexpected vacancies, repairs, or market shifts.Good luck, and I’m excited to hear how your journey progresses!

A couple expense assumptions:Insurance: .6% of market value per year ($1300 to $1700 for garden variety SFH)Repair buffer: $50/moPM: 8% of gross rent + 80% of first months rent HOA: Ranges from $0 to $50/mo.

I was on the phone with a BMO commercial mortgage guy this afternoon.

He bought the property pre COVID, so his cash flow is definitely going to be different than what mine will be.The question I'm wondering if its a good idea and if the numbers make sense.Purchase Price: $100,000Down payment: $20,000 (20%)Current cashflow: $900Property manager: $90 (10%)His expense for 12 months was only $1,430 (inspections, repairs, management, eviction services).