Add in any reoccurring overhead to the sheet as well. 

This would be a buy and hold for two cycles where the property would have enough room in the NOI to cover all reoccurring expenses along with a larger reserve for repairs with the occasional quarterly payout to myself if possible. 

Hi All! SO... looking for some info that someone out there might have (and maybe share a bit of my own). While working thru a few small BRRRRs, I've leveraged a credit card I have that will repeatedly send me checks i...

What numbers/ reoccurring expenses are you running for buy and hold?

They know I am a hard worker so I believe the trust is there and I would love to make this into a reoccurring thing to create more future deals for not only I, but the people who help me as well. 

When disinvestment of RE occurs and the quality of the units become dilapidated...then a crisis ensues.

I'm sorry to hear this is a reoccurring problem! 

I want to keep this guy and want to be fair, but also don't want what happened previously to reoccur. 

Safe to say i backed out of those deals as these kind of seemed to be a re-occurring theme in the Troy area.I'd stick to your guns & only rent to qualified tenants.

If you plan to keep investing in real estate and continue being a landlord, then you need to quickly improve your approach to avoid these types of problems, and having someone else (like a PM) solve your problems for you doesn't make you a better landlord...if you don't take responsibility for this situation and learn how to solve it, and learn how to avoid it in the future, then this type of problem will re-occur (even if you do have a great PM--because again, you need to manage the PM, and if you're not a competent LL, then your management of the PM will also be incompetent).