Most states allow you to charge for reasonable vacancy and marketing costs associated with the unexpected turnover and any normal charges beyond wear and tear.

If it looks nice, but the boiler and hot water heater and anything else in the basement (electrical, plumbing) are old, you will still have unexpected cap ex on a "new" renovation.

Every year that someone lives in your property, all the major components are degrading.

The real estate business really has 3 components to it: rehabbing/flipping, passive landlord, and property management.

but, I personally find it unsatisfying and frustrating to have someone start a thread about them investing in RE syndication and asking other investors experience only to find that they have started the same exact thread many times in the past AND  after my exposure to their post....and then to top it off they are not even really investors, nor are they really going at the topic from an investor mindset, but, rather have a purely 100% ulterior motive of promoting their own syndication....AND to add injury to insult, they are really horrible garbage investments.My opinion of most accredited investors, is that trust is a key component for them, when investing in Syndication. if the networking technique is disingenuous, it just comes off as corny-time-share-tactics-manipulative base level conduct that is unappealing, untrustworthy and wastes time.I will say that all your points of essentially "caveat emptor" regarding ones own filter for things anywhere on the internet(including BP)are true, but, the benefit of micro-social media- climates like Bigger Pockets is that you get the benefit of other like minded, maybe even I dare say "smarter than me" individuals, weeding out what is the inevitable dissent into Craiglistification of said micro climate...meaning that eventually if all the post, or some critical mass of the posts, become of the aforementioned disingenuous type, the benefits of the this type of forum become less evident or more cumbersome and timely to get value from, and maybe even have negative return on time-equity.....IMHO

This electric job probably has a couple of components.   

If a large unexpected expense comes up he will likely struggle to manage the financial priorities.

The vast majority of LLCs that have been set up for checkbook control have been created by dedicated LLC facilitators who work with one or more self directed IRA custodians for the IRA component of the IRA LLC structure.

I also have a 16 panel solar array that's 5 years old that I could sell components of for maybe $5k with inverter batteries etc.

Then it gets even worse when you need a new roof, need to paint the building, make unexpected plumbing repairs for the water and drain pipes, install a new water heater, or replace a furnace.I looked at the most-beautiful 108-unit property in Klammath Falls Oregon about 18 years ago and the units were selling for half the price of the units in Los Angeles County, but the problem was the rents for a 1-bedroom unit was only %450 and the 2-bedroom units were only $550.