This assumes some holdback for capex/repairs/vacancy that will be lumpy and (hopefully) not occurring every month.On a $200,000 interest-only loan at 9% you'd be paying $1,500/month.

Also, air conditioning removes moisture/humidity from the interior airspace, and nearly every home in the Carolinas runs AC during the warm months.Crawlspaces tend to be where the majority of problems occur.

This is more likely to occur with rent just below market level.  

Quote from @Chris Seveney: Every year I like to provide some predictions on what I think will occur in the upcoming year as it relates to seller financing, mortgage note investing and the like.

In the near term appreciation is not guaranteed, but over a long hold it has been a virtual guarantee as it has occurred for every 12 year period going back to start of price records and the 12 year was the Great Recession. - equity pay down is significant on expensive property.So if using 50% expense ratio, if you are less negative than market rent, you are likely doing better than most local RE investors.  

I just want to know if problems will occur for doing this. 

Tenant shall have abandoned or surrendered the Premises if any of the following events occur and if Tenant’s personal belongings have been substantially removed, and Tenant does not appear to be living in the Premises in Agent’s reasonable judgment :Tenant’s move out or notice to vacate date has passed; Tenant is in default for non‐payment of rent for 5 consecutive days; water, gas, electric, or any other service for the Premises connected in Tenant’s name has been terminated or disconnected; Agent is in the process of judicially evicting Tenant for any reason; and Tenant fails to respond for 2 consecutive days to any notice posted on the inside of the main entry door to the Premises stating that Agent considers Tenant to have abandoned. 

The region has gone through some significant saturation coming out of the pandemic where a strong boom in STR occurred.  

Anyone experienced similar issues with basement egress windows? I have a 1960s brick 4 unit and each unit has these windows in basement which all leak when we get even moderate rainfall. We have had two different cont...

I would raise unrenovated rents to market as lease maturities occur, and renovate and increase rents as turnover occurs.