They do damage to your ranking!

Sixteen homes to inspect- roofs, hot water tanks, soft floors, siding damage, decks, porches, furnaces. 

Chris, good point, I guess that kind of damage could happen to anything I own. 

It generally isn't worth the brain damage of experimenting though....especially if you want to move to a new home that you will own inside of the typical lender's seasoning period.

(NY counties are generally quite expensive)Do you have home owners insurance to cover fire or other damage?

------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

In your example, $250 in utility bills is much cheaper than $2500 to fix frozen-pipe damages!

Purchase price: $275,000 Cash invested: $45,000 Sale price: $400,000 Contributors: Adam Schooley This townhouse, which had gone through probate, suffered from significant water damage to the drywall and required updates throughout.

The IRS disaster assistance page and hotline are key resources for those seeking guidance.One significant benefit for those who have experienced property damage is the potential to claim a casualty loss deduction.

Purchase price: $275,000 Cash invested: $45,000 Sale price: $410,000 Contributors: Adam Schooley This townhouse, which had gone through probate, suffered from significant water damage to the drywall and required updates throughout.