You will have copper stolen, break ins, lots of evictions, etc.

And the funds are going to be applied towards paying the balance down, so it's not being stolen from you.

Meanwhile, when the tenants claim their stuff was stolen or damaged, they will be looking to you for concessions.

There have been breakins in the area, as thiefs have stolen copper, AC units, etc...

But before I begin, I wanted to share with you some real estate investing philosophy that I will freely admit I've stolen from a stock trading seminar I studied a few years ago. 

I was supposed to close this Friday but there were several delays with the appraisal (lockbox had been stolen when appraiser showed up, next time they came they were given the wrong code, etc).

A standard water heater would have been $2,100.Also just had another one replaced in a different home/rehab - I paid $895...mostly because the copper hot water pipes had been stolen and again, vent system had missing duct work.If everything is up to code, you could do it yourself pretty cheap (about $200/$250) but there are some circumstances where it's going to run a little higher.

I'm doing it for the cliche' reasons that I stated at the very top, but mostly because i'm very business minded and have been since I was very little, and real estate has been something  that has stolen my life (Because it's all i can think, read, and talk about!!)

There are basic things like the condition of the engine and body and tires and interior... but then there are other things like how did the owner treat the car, or was it involved in a crash, is it stolen.... etc...

All Tenants agree not to hold the Landlord responsible for any personal items lost or stolen from the premise.H.