Having already been to the tutorial a person is not as likely to go back if they need something specific.

It's a crap shoot for you.That's why a buyer needs to be prepared to payoff that obligation at any time, by refinancing or a sale if you don't have cash.

Yup.I will note that it's quite often the case that a 'perpetual tenant' drives up to my office in the flashiest of cars possible, and a humble landlord with millions in net worth drives up in a 15 year old piece of crap.

In a general wag for me I will use 5-7% for capex10% vacancy 10% PM5-7% for repairs Depending on where you are findin deals you could be digging thru a lot of crap to get to the gold.  

I will include $10k-$30k for the rehab such as painting(interior,exterior), fence(was crap), etc.

Total scam........ they are often expensive, don't totally cover the items, the companies they use to "fix" claims are often crap and they will band aid the issue until the end of time......The single benefit is if you are OOS, you call them and they handle the claim, so you don't have to find your own repair people etc.....so its ease of use...... but you often have to manage the insurance company as they jerk you around, stall and band aid the actual issue.....Had one when I bought a rental in TX and then continued it when the initial expired..... regretted it to this day.I'll take one as part of the deal when I buy.... but wont keep paying for it myself.Better off building a network of repair companies you trust

Too many attorneys are worth crap.

Keep analyzing deals every day and eventually one will come across and after looking at hundreds of crap deals it will be such an obviously good deal you will buy it without a Second thought or worrying about losing money because you'll be like even if I go over budget by 20k I could always sell it make a great profit, rent it, brrr it or do a heloc because I have so much equity here from day 1.

If crap hits the fan, and you can’t rent, market crashes, ect ect you aren’t stuck with that higher mortgage payment.

Good thing about that crap is that it will come off easily and in sheets.