Anyone investing in real estate needs to be prepared for that.It sounds like this investor was able to make significant progress with this tenant to get caught up.

It’s not that these expenses aren’t important—they should absolutely be planned for even if the property isn’t producing extra cash monthly.So no, you’re not misunderstanding—it’s just that the guest may have assumed investors in this strategy are prepared for such expenses through other means, like savings or planned reserves.Thanks for your input!

Prepared to hold for 8 years, ideally 10-12.

. - Projects give us visibility on my projects- My CPA can easily access the reports for tax preparation.

Luckily, staying on the property in order to make repairs and prepare it for tenants is business use, not personal use.

Preparing my for next purchase.

The owner is a former mortgage underwriter and she is preparing documents herself and having her friend at a title company execute the sale.  

To expand, @Ben Whittington, Dennis Doss and Anthony Geraci’s firms can prepare a customized set of loan docs for you in any state. 

A few weeks ago I wrote a summary overview to our investors in both funds to prepare them for probably lower returns in the short run from potential higher defaults.

Unless you're financially prepared to deal with these issues and accept that 'once you know, you must always disclose' defects, I would move on to finding what is truly a good deal - as a good deal is only as good as its bones.