All that being said, if things go bad be prepared to damage your relationship.

What about S8 tenants abusing utilities and causing damages?

Is the Property & Liability (Package or BOP) coverage being cancelled or just the Flood2. what were the dates, type of damage, and amounts paid on the claims3. what has been done to mitigate the chance of this happening again4.

Landlords are required to disclose that the property is located in flood prone area and/or the property is known to have been damaged at least once during the 5-year period before the lease.

Just set aside some for repairs and to replace worn out or damaged items.All houses will eventually need a new roof or HVAC system.We also have an upgrade budget.

Otherwise, he/she can be sued for a forceful eviction and be held liable for civil penalties, damages, court fees and other legal fees.

**Realtor Referrals:** Lastly, I'm in search of reputable realtors in the area who have experience working with investors like myself.

You would probably have to partner with someone who has a track record, or at least a reputable GC, in order for a lender to consider you for a construction loan.

Explain the potential damage and costs involved with the water running continuously and put it in writing letting him know that he is not to touch the chain again, that if he needs service that he should notify you and you will take care of it.Additionally, there are devices you can get that will alert you if your toilet is running.

Once they move in, it becomes their damage deposit.