I ended up renting this year to a sec 8 tenant, and so far she has been great - she has paid early every month, paid on time for utilities (billed to me through the township and then reimbursed by tenant) and the govt cuts their check on the 1st of the month.

I think its beneficial to require renter's insurance because it helps mitigate the threat of a lawsuit and keeping me out of court--when damage occurs to a tenants belongings particularly when it's caused by their own fault and the renter doesn't have renter's insurance, there's a high probability the tenant will try to claim some type of landlord responsibility or reimbursement for damaged belongings.

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Do you get legal fees reimbursed when someone redeems in AZ?

I believe that sale was cancelled.https://www.sfchronicle.com/ba...Don't know, but I'll guess the buyer had a lot of legal fees that were not reimbursed...so negative on that deal.While it seems genius at the time, it might be more pain than it's worth.

If you replace, I would document everything very well in case there is a class action lawsuit to see if you can get reimbursed for the replumbing.

The lender then sweeps the payment to you, at which time you record the offsetting “negative expense”.What sucks about this is there is always a lag between the time you pay the extra interest and when you actually get “reimbursed” for it.

Anytime repairs are necessary and are Tenant responsibility, you should have the repairs completed, pay your handyman or whoever made the repair, then bill the Tenant for reimbursement- providing them a copy of the paid invoice.

It is very unlikely that this older couple would be able to redeem the property and especially if they had to reimburse her for the repairs.

I like a quote I heard once on the podcast, "The renters don't pay your mortgage, they reimburse you."