From my experience, many investors prefer to stay hands-off and avoid the day-to-day operations—managing contractors, solving unexpected issues, or finding a replacement electrician.

Some places you will have turnover, bad tenants and have unexpected expenses. $900 seems low for a 3/1 so I think that can be pushed up. 

Their explanation: "The overall theme for 2023 is that unexpected roadblocks and delays throughout 2022 put us behind our originally targeted timelines for infill (occupancy increases) impacting how quickly we could increase revenue."   

Hi Landon, A common mistake to avoid is underestimating costs or timelines—always budget for unexpected expenses.

For example, stating a component of fraud, or theft by swindle.

There are mutiple components.

(Be sure to factor in vacancy, PM fees, maintenance, etc in addition to PITI)•Do you have additional reserves to cover unexpected expenses like long than expected vacancies, high turnover costs, or major repairs (e.g., HVAC or roof replacements)?

Make sure you have adequate reserves to cover unexpected emergencies.3) Time-intensive - If you live on-site you're a live in property manager on call 24/74) Legal issues - know the max occupancy laws for your area.

It's understandable that unexpected things arise sometimes, especially when you're opening up walls or dealing with older electric or plumbing.

This requires the right renovation components and speedy make-ready after a tenant departs.