Luckily for us the issue was not huge, but we missed the inspection window before we found that out. 203(K)’s have higher rates than standard loans, so consider the timing of your refinance (especially in todays environment).

It may make sense to "overpay" for a property that won't cash flow initially if you know that the value of that property will skyrocket in a couple years (say, because Amazon is building its new headquarters a bus stop away, or you're a geologist who knows there's probably oil under that grass).

If there are additional expenses they need to be taken into consideration such as if you are paying for water/sewer, gas or oil, trash, plowing or lawn care, HOA fees if there are any, CapEx, maintenance, vacancy, mortgage, taxes.

I work as an electrician in the oil field right now.

Here is the answer to your question:  https://www.biggerpockets.com/forums/51/topics/998718-explai...Short version: CPA service is not a commodity like an oil change, and even oil change can be messed up or damage your car.

@Jinesh Patel - whatever you do, don't go with one of the national snake oil salesmen....I mean "gurus". 

I share this because I think there is a myth that you either have to self-manage and run around like crazy OR shave 8-10% off the top of your rentals to get a PM company who can't give you the time or attention your portfolio needs.

I have one oil company that’s charging $4.24/gallon of oil right now and my commercial oil rate is $3.16 right now in other towns which when you fill up a tank is the difference of about $150 per fill up.

I’ve also been reinvesting capital to help reduce my overall expenses by replacing existing oil furnaces in 3 buildings where I pay for the oil to individual propane heaters that the tenants will pay for their own heat going forward with.

Others got sold snake oil by a good marketer.