Activities that deal with electrical or plumbing should be outsourced to avoid more expensive issues unless you have some prior experience with the simpler repairs in each.

One of the properties is about 90% rent ready and just needs a few cosmetic repairs.

Get estimates on repairs and integrate that data into your underwriting, if you know it may need a roof is 2 years.

During his lecture, he went through a phone script and said it would be given out to anyone who attended the training. 

I’m primarily in relatively upscale buildings which helps minimize my repairs and maintenance.

Quote from @Jinxiang Xu: New to being a landlord, and already forked out $20k for foundation repair on this rental house.

Here's the deal:Purchase Price (PP): $95kRenovation Budget (via HML): $60kTotal All-In Cost: $155kARV (After Repair Value): Around $200kRefinance (via DSCR Loan): 7% interest, 30-year fixedRefinance Details:After the refi, I will pay back the Hard Money Loan (HML) at 11.95% with 3 points:HML: $60,000Interest/fees: $3,585Other costs: $1,800Total to pay back HML: $65,385After the refi, I will have $84,615 left in cash.Cash Flow & Expenses:Expected Rent Income: $1,700/monthProperty Management (PM): $126/monthInsurance: $100/monthTaxes: $126/monthMortgage: $1,043.75/monthTotal Expenses: $1,395.75/monthSo my monthly cash flow is about:$1,700 - $1,395.75 = $304.25/month in cash flow.Return on Investment:Cash Invested After Refi: About $18,385 (after paying off HML and closing costs).Annual Cash Flow: $304.25 * 12 = $3,651Cash-on-Cash Return (CoC): $3,651 / $18,385 = 19.8%I didn’t account for maintenance costs since it’s a full gut rehab, and everything is brand new.

Ensure you have reserves for vacancies or repairs, properly screen tenants, switch to landlord insurance, and keep detailed records for tax time.

I've watched the repair orders drop dramatically over the past year and half while putting this in place.

Schlage has a 3 yr warranty on electronic locks and the UPS you a replacement after a few photos and a quick phone call.