Dave Stinnett My recent fire loss of a property similar to what you speak of could cost upwards of $30k to repair. al ot depends on what needs to be ripped out and replaced. this would require total rip out of inside walls down to studs in lower level and substantial clean up of smoke damage on upstairs bedrooms and bath.

Also, just because we were allowing the plants did not mean we were okay with them smoking in the house.  

getting property under contract for a smoking deal, let's say UNDER:  ARV - 70% - fees - repairs3.  

Thanks Eric H. glad you enjoyed it.Just keep on reading BP.This is were Real Investors discuss real world strategies.No smoke & mirrors.You may not always like the answers you receive on this site but at least your getting the truth even if it is not tied up in a neat bow.Real Estate is both a profitable & difficult business.

As for minimizing theft I actually have a guy on the street I buy cigarettes for and give him a little money to keep his eyes on things for me.  

We have a no-smoking policy and can enforce it, whether or not the tenant is using marijuana for medical reasons or recreational reasons.

Still, plan on putting cash into the annual inspection and definitely plan on $20 for lightbulbs and smoke detector batteries.

The owners smoke in the house, but I've been in smoker homes and never seen anything like this. 

You should be checking quarterly for furnace, smoke detect, leaking taps, water laeks and any form of damage. 

Without using one of those GCs you will get smoked cause its a very unique process.