First you need to learn to separate the following:Maintenance: usually things related to wear & tear or tenant damage.Repairs: usually broken items like doors & windows, caused by tenant or nature.Capital Improvements: usually expensive things that wear out: hot water tanks, furnaces, roofs, etc.The seller is correct that Repairs & Capital Improvement items should not be a factor for awhile (ALWAYS get your own inspection to confirm).

Indeed, where we pay a REALTOR commission, we are initially under water, but look at the long- term probability the rental will remain in the system.

For sure PG&E requires this for gas and electric, and I think most jurisdictions require it for water and sewer as well. 

NJ investor myself - happy to help you navigate these unique waters! 

However I have had to replace some major appliances recently which had put my in the defecate and added to my motivation to sell (Hot water heater, two refrigerates and a washer/dryer).

The Left must resist the urge to “help” with short-sighted, counter-productive policies like rent control.

All the water from the crown of the road floods onto my property and I was informed its illegal to discharge water onto anothers property and that the engineers could apply pressure to the city to have curb and gutter installed.

What water source is in that area?

I am confident that the 3 water heaters and 3 HVAC systems I put in place since Summer 2024 will give me some peace of mind in 2025 and beyond... for those properties.

However I have had to replace some major appliances recently which had put my in the defecate and added to my motivation to sell (Hot water heater, two refrigerates and a washer/dryer).