But enough to make to do all the cosmetics along with a few major items like HVAC, appliances, etc.

Additionally, they should help with coordinating your home inspection and if needed, getting GCs to walk and get you an itemized bid as well!

Look at insurance and tax costs, those two items are the biggest killer of cash flow.

An example of a mistake was a line item for alimony that I found on my taxes (I am single and have never been married).

So, if your property has all bills paid by the tenant, you will deduct from the voucher amount the set amount by bedroom count for items like water, electric, gas, etc.

Due to item 1, adding an ADU can require years to start achieving any return (once the accumulated cash flow recovers the initial negative position).4) Adding an ADU is a slow process.

I would try to buy properties starting at a specific date so not large ticket items come up.

Given the scope of your work, a simple plumbing leak would not concern me, it's a $200 issue at the most and ideally, it's just another line item when you do rough in plumbing for the kitchen.Being in a Milwaukee suburb, I am guessing it's a 1960s ranch, probably with galvanized plumbing.

One important item to note about bids: most smaller contractors are terrible at estimating.

With that being said, in a worst case scenario, you can always hire a property management company to handle the day to day items if it comes to that.