It’s not that these expenses aren’t important—they should absolutely be planned for even if the property isn’t producing extra cash monthly.So no, you’re not misunderstanding—it’s just that the guest may have assumed investors in this strategy are prepared for such expenses through other means, like savings or planned reserves.Thanks for your input!

. - Projects give us visibility on my projects- My CPA can easily access the reports for tax preparation.

Prepared to hold for 8 years, ideally 10-12.

Luckily, staying on the property in order to make repairs and prepare it for tenants is business use, not personal use.

Preparing my for next purchase.

The owner is a former mortgage underwriter and she is preparing documents herself and having her friend at a title company execute the sale.  

To expand, @Ben Whittington, Dennis Doss and Anthony Geraci’s firms can prepare a customized set of loan docs for you in any state. 

Unless you're financially prepared to deal with these issues and accept that 'once you know, you must always disclose' defects, I would move on to finding what is truly a good deal - as a good deal is only as good as its bones.  

I have been poor very poor living off food banks and pawning items just to eat for a day and do it again.

A few weeks ago I wrote a summary overview to our investors in both funds to prepare them for probably lower returns in the short run from potential higher defaults.