Hi Adam, we do everything in-house from the permitting & architectural to the construction itself, so that removes a few variables.

When you have one tenant not paying their $50 portion it is whatever, but when you have say 6 or 7 and your loosing out on $1000 a month you start noticing it a lot more! 

We painted the inside, opened the kitchen/dining room, replaced windows, removed a nasty fabric lined black tub from the basement, replaced the siding and redid the bathroom.

You might still make some money...or you might loose just a little while you learn....but I think chances are unless you totally mess things up or every part of the deal goes wrong, you end up with most of your money back....AND you learn and develop some relationships.

Snow removal and fire prep add to the cost.

You can buff out scratches with a baking soda paste, a stainless steel scratch remover like Bar Keeper's Friend, or a small amount of toothpaste.

It’s given me the opportunity to save and prepare for my next upcoming purchase.I’ve gotten the units from $750x2 and $800x2 to a consistent $900. current mortgage is $2500 monthly, refinancing to a conventional and removing mortgage insurance should bring me to $2100. 

@Patti Robertson I was more thinking if the tenant isn’t removing the trash in a timely manner or has trash on the exterior.

All liens are removed from the property as the result of sale at auction.We won the bid, wrote the check to the sheriff within 30 days, and today the deed was recorded, we are the owners!  

If so, that would remove one major and valid objection to letting unsupervised strangers into houses.In my own business, an applicant can apply for an apartment before touring it.