I had miscalculated the repairs that would be needed to get the home back up to liveable condition and I had to go back to the seller to renegotiate the price.

A CPA can ensure proper filing of rental income on Schedule E and help identify tax-saving strategies, such as optimizing deductions for maintenance, repairs, and travel.

we just see new investors in the forums blown away when they hit their fix big capex - a new roof, a new furnace, a driveway repair, a couple appliances going at once. 

Vacancy high taxes, turnover costs, constant repairs ate it up. 

Quote from @Stuart Udis: My comment has nothing to do with comps and your decision to make the repair shouldn't be comp influenced either.  

My recommendation is to save money through your W2 until you not only have enough for a down payment but a reserve for repairs as well.

It's a very expensive repair (ballpark $15,000) and the cost depends on how long the sewer line is.A lot of municipalities here require dye tests and occupancy inspections.

In this guide, we’ll explore five essential tax mitigation techniques that every savvy investor should know.1.

I like the 1% rule it's a conservative approach to underwriting and aligns with my risk mitigation techniques.

Since they needed renovations, he invested roughly $30,000 per property to make them rent-ready—bringing his total investment to $110,000 per unit.Once rented, he quickly encountered issues: non-payment, eviction filings, constant repairs, and tenant-related damages.