Existing tenants claim that they are generally happy with the property and don't have any complaints or repairs that they've requested and they've just renewed their lease 2 months ago.What I like about Hemlane- Cost: Even at the most expensive package offering for full repair coordination and access to a network of service pros, its still cheaper than the property management companies I've spoken with.

There has been some hesitation for me to sell due to the fact the rental market here is averaging $2,500 in rent for my area and property, I make great money now and have funds to cover vacancy and repairs on the home, but I would like to be able to afford a nice rental for my fiance and I to live in while we save for our primary residence.Shoild I sell and take my profits (60-70k net) and throw into an investment closer to where I will be living or should I rent, cash flow and build equity in the property. 

The best thing about getting to that $200,000 price range is getting a much newer home with less repair risk. 

I found it really time consuming to measure for every single repair in a house so automated calcs as much as I could based on room sizes.  

From my experience, multifamily rentals often attract tenants who submit maintenance requests for minor issues since they usually lack the tools or experience for basic repairs.

> Prior owners want nothing to do with the property, I'm unable to structure any kind of deal with them, or fix issue of husband being removed from title, or undo foreclosure auction (thoroughly checked with attorney).Recently discovered repairs needed totaling 20-40k which I cannot finance. 

Additional forms of ID, etc.In my experience, going after lost rent and repair expenses is normally a waste of time.

Considering the concept "you make money when you buy" how would you reconcile that against your recommendation that a new investor starts with a turnkey rental vs a property that needs even minimal work so there's equity in the property after repairs/upgrades?

However, a commonly used benchmark is the 70% rule.The 70% rule suggests that to make a flip worth it, you should aim to purchase a property for no more than 70% of the after-repair value (ARV) minus the estimated renovation costs.

Plus, like any manager, you might get questioned about the cost of any repair too!