The landlord is required to repair EVERYTHING!

Hi Chris from the U.P. of Michigan.Congratulations on deciding to get into real estate investing with your first Buy, Rehab, Rent, Re-finance, and Repeat or BRRRR and you are wondering where to start and who you should add to your team first.It is good you have cash or cash equivalents to buy the property and complete the repairs.As far as who to have on your team first, I would say an investor friendly Realtor who can help you find deals and introduce you to the rest of the team like a good property inspector to hopefully let you know about potentially expensive repairs early before buying the property so you can buy it well or not buy it at all.

Maintenance can also be a factor—while newer homes may require minimal upkeep, older units might need more frequent repairs, particularly for things like plumbing or HVAC systems.Some things to pay close attention to:Zoning and Permits: Check local zoning laws and permit requirements to ensure you’re allowed to place a mobile home on your land and rent it out.

3) If their handyman can't handle a repair issue and they have to hire outside contractors, many PMC's will then charge a markup for their time - but they don't tell you this upfront or disclose in their management contract.

I was able to replenish emergency fund money I had to dip into for furnishing, was able to pay off a hot tub, was able to replace 2 garage doors and paid for a larger repair this year.

It usually starts with a thorough walkthrough of the property to list all repairs and improvements.  

I read on Lee Arnold system . com that joining the inner circle gives access to up to 100% financing on residential loans including Property Purchase Price + Closing Costs + Rehab Costs if that amount is 65% of the after repair value (ARV) as determined by a third party appraiser.  

Renovations and Repairs- The property is  a ~100yr old brick  building and will require some work before its rent ready. 

The combination of high costs and the after-repair value (ARV) frequently leads me to conclude that buying a new rental property is a better use of capital.

Initially after management fees, repairs and PMI i was losing about $250 per month.