Hey everyone,I'm new to BP, but not to being a Landlord/property owner, since I've owned a SFH that I've rented out to graduate students in Long Island, NY for 18 years.

You don't wait until next payment comes due, you serve it on the first day rent is late.The hot water heater is a separate issue entirely, and refusing to provide hot water make the unit uninhabitable in most jurisdictions that I know of (probably all of them).

Starting an eviction after the tenant called the city who then condemned your property would, IMHO, be just as big a mistake as waiting six months to get the gas issue repaired.Retaliatory eviction is a no-no, and no MDJ or higher court will be friendly to this kind of easy-to-connect-the-dots prosecution against you.The property is uninhabitable; get the plumber to get off their *** and get the job done. 

I am in the Aquidneck Island area of Rhode Island but willing to go beyond there.

I’m in negotiations on a duplex here on Long Island that I can purchase for $425,000 and collect $4,500 gross per month with minimal Capex.

Owning property on an island is more for the equity game than cash flow.

Hello Eyad,Many new investors - especially in NYC + Long Island - are getting started by house-hacking.

I am looking to get a job as a commercial broker in the Long Island/New York City market.

They have the best rate compared to other credits unions in Rhode Island. 

Unless it is uninhabitable, I would consider holding your reserves and doing a minimum necessary to get it occupied.