I have about 20 guys, I have done 100s and 100s of deals there along with thousands of repairs/renovations.

We would use 5-10 for some repairs in the condo we are currently living in and then rent it out and house hack another condo with a VA loan.

Also looking to hear from anybody who has thoughts on the rental market in close proximity to major universities - I recognize the challenge of college students and the sometimes problematic care and need for repairs (that is why I am hoping to target the graduate/PhD/Med student population who might be less-centered on partying and more centered on academics and being responsible...pipe dream?

My bigger concern is not having enough funds for any repairs that may be needed.

Sq ft 1218, 3 bd/1 bath. asking 47.5K, Repairs approximately 40K, ARV: 150.

Given the fact that I’m single and have zero dependents I figured it may make sense to move to the new house for at least a year to get a primary residence mortgage with a lower rate and rent out my existing house as a furnished mid-term rental.My question is around taxes: my current home needs significant repairs and updates (about $20-30k’s worth 😬) before it’s ready to be rented (the pool enclosure went partially down during a storm among other things).

it has been very difficult to find a house that makes send for BRRR since I have to use the HELOC for downpayment and possible repairs I am very limited.

Each property has a home warranty so repairs typically just require a call to the home warranty company who then organizes the logistics of setting up a handyman from their network.

My PM used to have a person who did the payments and every year around Feb, she'd send out an annual statement for your taxes showing how much you got in rent, spent in repairs and management fees. 

I also layout that as a landlord, I am responsible for major repairs, including HVAC, mechanical, and plumbing.