We set aside a portion of our gross rents each month (usually 15-20%) in a capital improvement account and then we can use that account to fund repairs like roofs, AC units, remodel of kitchens or bathrooms, new appliances etc.You will always find something to spend on , I would spend some time to prioritize your capital spending, and to plan ahead of time for big ticket items to keep your place in top condition.  

Is it that they're spending their money on other things and not prioritizing paying their rent first?

I would recommend looking them up on the state specific forum and prioritizing getting out to them to help build contacts.

I anticipated putting about $4000-$5000 into it to address a few safety issues, make a few repairs and get it rent ready.

It has recovered nicely but that is something that may happen again.Note that the S&P500 in the past two years has been about 15% IRR so this is great for diversification and it may keep pace with the market in the long run but true full diversification is also important.Bottom line, as far as I am concerned, I would give a green light to Fundrise with the caveat of a reocmmendation to diversifying between multiple offerings (I like wide diversification for safety).

Lehi/Saratoga Springs is booming is well, but probably closer to 20% gains in the last year or two.3) I'd recommend you look at areavibes.com or trulia.com/local for safety information. 

This should ensure a good safety net and keep the project moving along in case you run into any hiccups.4.  

I don't think it causes a safety hazard, it's just that the upper half of the house is no longer approved as a rental so there's no point in having an upstairs kitchen.Thanks again,Matt

Err, Building and Safety Dept.

It has several features which are unsafe as it stands but easy to fix and MUST be fixed for safety reasons.