Two out of three are well below market rent, so I am trying to bring them up annually. 

It's also always great to catch up with BP regulars I usually only get to see once a year at this conference.As for connections, we're trying to start a construction company and offer services to local managers to do preventative maintenance inspections in order to take advantage of our infrastructure and increase revenue while we aren't buying much. 

My wife and I are considering taking on this role as a property management team, managing these properties from our current location in Washington state.Our plan is to establish a reliable network of local contacts in the area—such as maintenance professionals, agents, lawyers, etc.

According to Zoocasa, the annual median income in Greater Boston has increased by 22.4 percent since 2018, yet in that same period, the average monthly mortgage payment has jumped by 27.5 percent.

Yes new builds are turnkey and better for maintenance/cap ex costs but it's more expensive and moving parts to building.

2) Grace Period: 5 days- Many judges in our area frown upon no grace period- Ours is voidable if tenant is late more than 3 times in a 12-month period3) Late Fee 5% on the 6th- Our software auto-charges- We will waive for a GREAT tenant, 1 maybe 2 times annually, just like a lender may waive the occassional late fee4) Daily Late Fee: 10% per diem- Our software auto-charges- We added this years ago when a smart aleck tenant, upset that we wouldn't waive their late fee, told us they would pay the last day of the month.- Judges often throw these out:(5) Eviction Notice for Nonpayment of Rent: sent ASAP- In Michigan, it's a 7-Day Notice- Our staff bulk sends on the 6th of each month, no exceptions- Even our best tenants get them and we just tell them it's automated and they can ignore if they payRecommend you have a detailed Eviction Procedure and follow it!

This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.This example shows that while the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall annual loss.

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

Cutting back vegetation etc.The home probably got more deferred maintenance, water damage evident even in this video.

I'm not sure I've had a turnover that either on move out or the new tenant moving in and finding things weren't working that I didn't have to fix something.For the places I manage (different city than where the PM is), aside from the two turn overs where the tenants didn't pay rent, I've been lucky and have no vacancies and usually minimal repairs/maintenance ($0-$500).