Any repair (perhaps over a certain number of repairs) or time spent on a door outside of routine management is a "claim."  

However if you didn’t calculate in at least some percentage of the rent for vacancy, repairs, and CapEx then eventually things will happen, such as a vacancy or a repair being needed and you will be out of pocket a much larger amount of money than just your $400.

How about repairs ?  

I just go in at the first of every month and code each line item to the corresponding property and note what the expense was for (Repair, HOA Fee, Mortgage payment, etc).

Take the time to break down what needs to be repaired and what upgrades you will be doing.

I lived in Madrid, Spain for about 8 months and I am curious if it is possible for non-residents to successfully have rental properties within the country.My concern is mostly from a tax standpoint and whether it makes sense.My research shows that Non-residents of Spain(but a resident of Europe) pay a flat rate of 19% on NET RENTAL INCOME.Non-residents of Spain(Not a resident of Europe, such as the USA) pay a flat rate of 24% on GROSS RENTAL INCOME.The difference of paying tax on Net and Gross is huge.Americans are not able to deduct expenses such as mortgage interest, taxes, insurance, cleaning, repairs, etcA pro that I can think about when it comes to invest in Spain is that overall costs are less - Mortgage rates are currently around 4% - 4.5% while it is around 6.5% - 7% in the US.Am I reading the tax law correctly?

Repairs and maintenance was $3492.50 for the year. 

Roof repairs, broken this, broken that.

Repair costs in first 1 month of owning (this is renovated house done by seller, not me.

Typlcally, a lender is going to lend 75% - 90% of the Cost of the project (property price plus rehab cost (scope of work)) or 70% - 75% of the ARV (As Repaired (as completed) Value).