It's an amazing market to be in because you can still find the 1% rule and positive cash flow while getting amazing appreciation potential.

While there’s no perfect formula, there are a few methods you can use to get as close as possible:For maintenance and repairs, a good rule of thumb is to budget 1%–2% of the property’s value annually.

I agree that the upside here is knowing most of the mechanicals need to be redone upfront, so there should be fewer ‘surprises’ along the way.Setting aside a solid contingency fund is a must—do you have a rule of thumb for that?

It seems like the tenant is being respectful, following the rules, and is not being a problem so I think that is what you would tell any other tenants who ask, as long as you have seen the card.

Owners were charged an assessment (several thousand dollars) in 2023 to put into reserves, as per the new rules after the Surfside collapse.

Asking in the correct forum will get a better response.Read the RULES!

@Omar PietersA few things here.The 1% rule is thankfully not a rule otherwise most real estate investments in the US and many other parts of the world wouldn't work.

There are rules to follow!

There are rules to follow!

Asking in the correct forum will get a better response.Read the RULES!