Why get tied up into a hold project when many things can go wrong.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

At minimum, I would try to establish rapport with one handyperson so you have someone on call for when things go wrong. 

We were wrong.

Good morning “Upstate” crew,I originally posted this in the wrong thread (I think) so I’m reposting this in the Upstate NY group to better target the Binghamton area.

This starts early on with preventing what could potentially go wrong by attracting an awesome tenant and looking at what vulnerabilites currently exist in your property.  

Originally posted by @Denise Evans:@Jared Irby is correct, @Dion DePaoli is wrong.

Just sounds like too much that go wrong on the hot tub side, but also the guest side. 

Get the match at the very minimum.Nothing wrong with putting money in your 401k, and check with your admin if you can take out a loan to buy a primary from your 401.

From the ownership side the advantage is if we project the numbers wrong and the value is less post-renovation, my all-in cost is less which makes it less likely to lose money.