For example if your right units AC craps out this summer that means that you just ate up your whole 10% CapX and repair budget for the first 2(!)

Most coworkers say "he just got lucky" lol.I have built one spec. house for myself and partners in the 90s, held it for to long and interest and broker fees ate most of the profits, so partnership dissolved because of lack of money in the one project and interest to continue.

@ Chris K - yes - me either - I have actually had to kick people out of my yard - and it wasn't even vacant - I caught a delivery guy taking a piss in my garbage area and kicked him out made a guy trash digger leave my house cause he was leaving garbage all over and getting beligerant and telling he did this every single day and it was his job and that he knew everything we ate , drink , and threw away - when he would not stop  - I physically closed the lid on his arm and removed him from the areamade some guy drop  a package he was trying to take away from my multiplex when he could not identify himself or why he was taking it .. saying that it was his " cousins"  - made him drop the box.. he said  " i was gonna feel stupid when i found out i was wrong later... "  that never happened - it was my tenants packageI could actually go on and on .... in retrospect ..

I always ate it but 40k is too much.  

I'm an electrician and rehabs ate right up my alley. 

Incidentally;  a substantial part of my anti pet stance is that I ate, hate, HATE the smell of dog and cat poop and pee.

I guess they ate whatever rats there had been.

The looked at me a little weird but they sure ate everything.

How would you like the service if Walmart told you you can't get out of your purchase unless you ate half the cost?

Private lenders ate typically people that know you and trust you, or they are referrals from friends or acquaintances that know and trust both of you.