Additionally, a new lease must be signed prior to the lease expiration in order to avoid higher month-to-month rental charges.Please email your decision on whether to renew and I will prepare and email a new lease for you to sign.I hope that you continue your residency with us, but if you do not wish to renew the lease, we can provide a copy of the move-out instructions.Finally, I plan to conduct a routine annual safety and maintenance inspection on XXXX.

When you own a minimum of about 30 units you can afford Property Management companies take over the daily routine operation's at work and allows you to do whatever you want to and still make money without your having to be there. 

They routinely apply current building codes to homes built in the 50's that will be required before a tenant can move in.  

Let’s assume there are no routine repairs because the tenant stays for 20 years and fixes everything himself, and when he moves out the paint, carpet etc are all in great shape.

And this is coming from a guy who routinely melts down on my cell, cable, internet provider tech lines.

I am getting back to BiggerPockets being one of my daily/weekly routines. 

So I could ReFi and still have a cash flow of $1,600 not accounting for vacancy, reserves, or routine maintenance.So basically the bank would write me a check for $245,000, I would have all of my original investment back, I would have 30% equity in the property, and the property would still be cash flowing $1,600/mo.I actually have never done a cash out ReFi, as this is my first BRRRR deal. 

That doesn't even break the 1% rule, and in the Little Rock area, I routinely get above 2%.

Once that's set up, and they are comfortable, it's becomes a routine for them.JC

My biggest learning point was the podcasts, I was able to drive to work, or be going about my daily routine all the while be learning about real estate.