Using an unexpected repair as justification for not caring about cashflow as much as appreciation doesn't really address the issue, especially when appreciation also operates on the idea that the property's condition doesn't decline relative to comps.From what I understand about REI and cashflow, cashflow should cover not only PITI, but maintenance, repair reserves, prop management, etc.

(Usually results me less than $10,000 out of pocket on the front end) I am pretty sure wether operating independently or partnering with someone using their loan it would be the same terms.

Quote from @Steve Wortman: Currently the owner operator of a motel.

Because it has to, it's operating on a razor slim margin and can't afford the issues. 

You would have preferred to see our properties like a marketplace listing, but that is not how we operate.  

You'll need money for: closing costs, down payment (if any), operating capital to get the construction/rehab started (most HMLs reimburse you in draws for the work completed), along with some liquid reserves on top of that.

I operate a few rentals in the Watertown NY area.

Despite the house being operated for years by the prior owner as a STR. 

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

2116 S Van Buren St, Amarillo, TX 79109 | realtor.com® I live in a historic neighborhood in Dallas in which there was a wedding venue operating.