I reasoned the $193,663 can be used as reserve for metering the property and other needed non-recurring replacements.

Lenders use any debts that appear on your credit report as well as an recurring withdrawals from your bank account.

So after a moment of heart sinking anxiety, I remembered this slick little tool I got for Christmas from my father-in-law (I had borrowed his for the door jambs and flooring install so he bought me my own so he could have his back... lol. 

A simple Google Doc that links to a drive full of Checklists and How To Videos can become your Business Procedure Doc that will enable a new member to take over tasks recurring tasks.

They have the applicant load up their deposit accounts and they give you their recurring and non-recurring deposit summary for the last month, 3 months, and year.

You purchase these properties for a discount, make a few minor improvements, raise the rents and when you raise the rents you increase the value of the property almost exponentially (that is not really true, but I say that to get my point across).Don't be so anxious to blow your wad of cash and wait until you have at least $50,000 and your investing will give you some significant returns (profits).Get yourself a mindset where you know it is better to wait until 'the time is right', or your anxiety will always be a hindrance.

This was a recurring theme in many rust belt cities in the mid west that have seen population and real income decline for decades.Operating Expenses RiskUnanticipated increases in operating expenses result in a reduction in NOI.

Stabilizing the property includes repairing or replace all the issues you have seen correctly - always make sure they are just not putting a band aid to the problem to avoid recurring issues.

I'm looking at buying a house as an investment property in Rhode Island and wanted to know what would be common monthly recurring costs outside of (Mortgage, Property Taxes, and Insurance).

They may be at work, or trying to cook dinner for their 2 kids, they may have anxiety and hate talking on the phone - 99% of the time, someone will contact you in the way that is easiest for them.