Buyer beware.Sales people will tell you you’re getting a product and service that you’re not. 6 months in and it’s still broken with no resolve, and they want to charge you to fix the bugs.

In other words, if there was a broken leg on your property that resulted in $250,000 in medical, lost wages, and pain & suffering, if there was gross negligence on your part, the total judgement could be $1.25 million, and worse, your insurance company could deny it.So what constitutes gross negligence? 

Even once when my home was broken into while I was lying in a hospital bed, the landlord made his way over.

Well you've broken the law by not returning it in the time frame.

But there is hope... if you drive through the 4th ward area, you can clearly tell which properties are owned (single family homes with kept lawns and neatly decorated) and which properties are rentals (usually a broken window or two, falling apart porches, messy yards)... the closer to the single family-dense parts in the 4th ward, the better chance you have of getting a rental property that hasn't been laid to waste that you can purchase for a fairly cheap price. 

You’ll probably need to budget between 1% and 3% of the rental’s purchase price per year to fix leaky pipes, busted doors, broken windows, and similar items.Then, you’ll need to budget for capex reserves.

When I was flipping I noticed that the attraction was broken out in two categories:The woman wanted to see improvements in the kitchen, baths & closetsThe man wanted to see that it had a nice basement, garage & yardThe woman's desires seemed to add greater value than those on the man's list....and the woman's list always took precedence if the budget couldn't handle all of them.

Repairing water damage and fixing broken items is the bear minimum for a landlord.

They are being sued by multiple neighbors for neglect (a broken refrigerator being left broken for weeks, black mold that was in apartments upon move in for new tenants, no heat or air conditioning in units for MONTHS) I suppose Home365 didn’t have an address set up for their bills either, we were actually getting their trash removal bill in our mailbox.

Don't walk across broken glass in your bare feet, it's like buying subject to and being under funded.3.