you really think you've learned a thing or two, and then some tenant teaches you something totally unexpected (and always costly)......

Its a fairly complex setup with both a contribution and a profit sharing component.

Keep in mind, though, that, in addition to the excess formaldehyde problems with some of these trailers, many were also vandalized and had components missing from them.

Does HUD always require a contingency reserve to cover unexpected cost increases?

It can be due to some unexpected expense, some unforeseen health condition that requires spending lots of money or may be simply because planning out the monthly budget ended up costing huge amounts of money.

No wonder we are in a RE meltdown.Too many people are trying(& buying) that have NO money.Bad things happen guys.You need cash to smooth out the unexpected.2.I'm guessing 99% of the people here own NO RE.I have read only a few posters who i'm sure have real world experience3.Too many people jumping into RE blind.4.People who buy books,cd's,dvds & attend seminars are idiots.A few final thoughts...Bad things happen.You WILL buy a property with a HUGE unexpected problem.Plan for it.You will have a renter smear feces on the wall the day before eviction.You are the ENEMY in almost every tenants eyes.

All sorts of weird and unexpected laws in place in different locations.More specifically, though, these tenants are probably on a month to month rental arrangement.

Have their been any unexpected expenses or surprises (such as termite infestations, or other nasty, expensive unpleasantness) with the properties?

Sometimes we encounter situations or the unexpected that we have to face as well and get through those unexpecteds.

How many times has some one posted "my tenant moved out unexpectedly, and the mortgage payment is coming due, what do I do?"