Right, the list of things to maintain and/or replace is never ending; rugs, AC filters, light bulbs, water filter in fridge, detector batteries, pest control, coffee maker, stove eyes and pans, silverware, bowls, glasses, sofa cushions, pillows, blinds, brooms, mops, vacuum, brushes, shower curtains, bath mats, beach towels. 

We've had to install bullet proof glass, leaded drywall, have a purchase contract actually read into the Congressional Record.

Any damage to window glass or entry doors is the sole responsibility of the Tenant.

I slightly protect myself by having a sliding scale with the renovation costs. 

The water damage stretches from the header above a sliding balcony door all the way down the drywall on both sides of the sliding door and even to the abutting kitchen’s drop ceiling.

It depends on the deal, but what we did was give the PMP (Private Money Partner) 50% equity in the property to fund the entire entry fee.Thats not necessarily a rule of thumb.This to me is a sliding scale based on the Cash on Cash return you can expect.Further , we offered our partner 75% of the cash flow until they are paid back in full, then the cash flow return drops down to 50%.All liabilities would also be split 50% with this partner.We called the company we use , who establishes our LLCs, opened an LLC, wrote up an operating agreement and a JV agreement that outlined all of our responsibilities for the asset.

If you click on the magnifying glass in the upper corner and type accounting you’ll see other times this has been brought up and the answers given. 

Like others have mentioned this is harder than ever with interest rates where they are, but you'll also be able to refinance when interest rates drop.  12 months later (Again this is a rose-colored glasses situation) you'll have access to another 50k from your TSP and potentially a HELOC from the property you purchased, now you have a pile of cash you can use to buy other BRRRRs.

The new atrium glass was not in the original budget but really made the project pop.

Would this potentially make it legal for sliding scale fees to be negotiated?