Investor Consequences: Longer Tenure, Lower Vacancy Rates: Reduced tenant turnover can help minimize vacancy rates, saving costs related to marketing, leasing, and repairs.

You were made aware of undesirable conditions and made immediate attempts to address the problem through a capitol improvement not just a simple repair.

Properties within driving distance offer several advantages:Hands-on management: You can personally handle issues like maintenance, repairs, and tenant interactions, which is invaluable when you're learning the ins and outs of rental management.Cost efficiency: Without needing to rely on a property manager from the start, you’ll save on fees.Faster response time: Being local means you're close enough to address emergencies or inspect the property as needed.Starting with a nearby property often leads to a smoother learning experience.

Due to the nature of the possible time and repair costs this may lead to speak with an attorney that can advise you on law suit. 

Also, do you typically get a quote from a local handyman for 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.

Hello BP Community,I am looking at  a turnkey property in the DFW area. There has been a considerable amount of foundation work done (addition for piers, leveling, etc). Is this common problem in older homes in Texas?...

@Travis OglesbyGet an attorney to write up the agreement between people whose it as it will list maintenance requirements, putting money aside for repairs etc and who does what.You will need to get everyone to agree as well.

Oh, and I would also interview a few local handymen to keep on call in the case something does need a timely repair (at least 2). 

They claimed the compressor was overworking, used an outdated refrigerant that’s no longer available, the indoor coil had a cracked pan, and the system was beyond repair.