Good Afternoon, Wondering if anyone could speak to maintenance costs on multi family properties in the great Portland market. 

All you need is a single place to track tenant information, payment history, maintenance, and a few other things.

This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.This example shows that while the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall annual loss.

Unfortunately, some tenants may exaggerate to try to speed up maintenance requests.

For example an uber driver will have things like fuel, vehicle maintenance etc which could be several thousand per year!

You only need a place to track tenant information, payment history, maintenance, etc.

And the reserve amount seems to cap off at 6 months, whereas CapEx funds could easily keep growing to accommodate for the upcoming large expenses.Where do you keep your 'maintenance' funds?

If it's buy and hold make the landscaping low to zero maintenance to save on costs or having your tenants be responsible. 

I’ve looked at the Melbourne area and would be happy to connect offline to learn more.I go back and forth between a luxury condo (pros are easier to manage, less maintenance: cons high HOAs, limited STR rules) or a newer built home (pros are larger space, more private, higher appreciation potential: cons higher insurance, more maintenance, more upkeep, more services like lawn care/pool cleaners/etc needed).

If I bought the property now and had to keep the tenant, it would rent out for $1450/mo and my payment would probably be around $980, but with property management and maintenance fees it would cash flow <$100/mo.