You also have to consider the down time of not renting while you renovate and likely having to fly in several times to check on work, meed contractors, pick up supplies.

The kindness and humor of the responses is comforting in a field where there is very little down time (currently as I get it established) and you all "get it".

I have a way to cut down time and keep projects on track but adds the most risk.

We have been in contact with other individuals throughout the state and they are all saying the same thing – prices are down, time to fill units is up, and evictions are up.

You are going to have some downtime regardless.

The down time in Poconos is really in early fall.

I also understand you can charge them a certain amount as a penalty....1 month rent to cover the downtime for finding a new tenant. 

I feel vegas market has cooled down, time for deals seeking. 

While the repairs will temporarily affect rental operations, the long-term tax advantages from depreciation could help recover some of the initial financial outlay.In terms of negotiations, it would be wise to push for a larger price reduction instead of accepting a cashier's check, given the magnitude of the repairs and the expected loss of rental income during the downtime.

I never had a downtime.