I manage my own rentals and I also do all my own handyman/maintenance repairs.

The questions agents get from buyers and sellers may seem basic and even downright silly at times but that makes sense.I could try to fix my car myself but there's a large upfront cost of learning the relevant knowledge, buying tools/parts to make the repair, and the time spent in trial in error.

Do you know how much the repairs should REALLY cost vs just being told this is the price?

Poor managers fail to make repairs(or insist on them to owners), fail to followup on cleaners and fail take care of guests, therefore the reviews tank impacting bookings/ADR.

Impressive Rent-to-Price Ratios: Average rents for 3-bed homes are about $800-$900/month, potentially yielding 12-15% gross returns.Economic Transition: While historically industrial, Bay City is diversifying into healthcare, education, and service sectors.Revitalization Efforts: Downtown redevelopment and community initiatives are breathing new life into the city.Strong Cash Flow Potential: Low property taxes and insurance costs contribute to robust monthly cash flows.Let's crunch some numbers on a hypothetical deal:Purchase Price: $75,000Down Payment (20%): $15,000Mortgage (4.5% interest, 30-year fixed): $304/monthProperty Tax: $100/monthInsurance: $60/monthEstimated Repairs/CapEx: $100/monthProperty Management (10%): $85/monthTotal Monthly Expenses: $649Potential Rent: $850/monthEstimated Monthly Cash Flow: $201Cash-on-Cash Return: About 16.08% (not including appreciation or tax benefits)These are rough estimates, and individual properties will vary.

Associations must now conduct a Structural Integrity Reserve Study (SIRS) to ensure they have adequate funds for necessary repairs and maintenance.

@Marty Rogachefsky, if you repaired the old refrigerator that would be a maintenance/repair aka an operating expense but by replacing something that had reached its useful life its a capital expense and is depreciated.

And got the upper/lower water damage fixed and repaired. 

At these numbers HVAC repair breaks down to $2000 cost per year on average to replace a $10k unit every 5 years. 

Hey Ryan, yes I was told that just a cleaning alone, not any repairs, would be around $200-$250 but was shocked when I was sent an itemized bill and was charged $550 to clean a 2BR/2B condo downtown.