@Apurv Asthana I usually keep high deductibles and low premiums on all my policies since I wouldn't file a claim unless absolutely necessary...usually I can get things repair at good pricing. 

Power washing the exterior, repairing the driveway, and painting the front doorWhat was the outcome?

@Tove Fox - Residential Real Estate InvestingPros:Lower Entry Costs: Easier to get started with less capital required.High Demand: People always need homes, making demand relatively stable.Easier Financing: Mortgages are generally easier to secure with favorable terms.Simplicity: Easier to understand and manage, especially for beginners.Flexibility: You can use it as a personal residence or rent it out.Cons:Tenant Turnover: More frequent turnover leads to vacancy and more management.Lower Cash Flow: Income potential can be modest compared to commercial properties.Emotional Buyers: Residential prices can be influenced by emotions, leading to price volatility.Maintenance Burden: Landlords often deal with repairs and maintenance, which can be time-consuming.Commercial Real Estate InvestingPros:Higher Income Potential: Stronger cash flow and higher returns are common.Long-Term Leases: Tenants often sign longer leases (3-10 years), reducing vacancy risk.Professional Tenants: Business tenants tend to take better care of the property.Valuation Based on Income: Prices are based on the income the property generates, not market emotions.Shared Costs: Tenants often cover property expenses like taxes, insurance, and maintenance (via triple-net leases).Cons:High Entry Costs: Requires more capital or partnerships to get started.Complex Management: More expertise is needed; you may need a professional property manager.Economic Sensitivity: Commercial properties are more sensitive to economic conditions.Challenging Financing: Securing financing can be harder, with stricter terms and higher interest rates.Zoning and Legalities: More complex regulations compared to residential properties.Key Differences:Risk: Residential tends to be lower risk, while commercial offers higher rewards but with greater risk.Management: Residential is easier for DIY investors, while commercial properties usually require a team.Scalability: Commercial properties are easier to scale, offering more potential for significant cash flow increases.

In 2018, we had a property turn and the net cost to you out of pocket was around $500 (costs to repair minus the security deposit that was returned to you.)

On paper we were slightly in the red but much of that is due to one-year expenses/repairs & allowable transportation costs to get up to the property for work days ourselves. 

Power washing the exterior, repairing the driveway, and painting the front door.

If it's a couple of $ thousand, I'd just pay for the repair and move on.

Usually companies are charging 10% on top of maintenance repairs, in addition to one months rent as a placement fee for leasing unit.

A few others have called out Hemlane, who appear also quite responsive here on BP and also offer a degree of repair/work order management baked right into their middle/upper tier offerings (versus having to bolt-on as with RentRedi + Latchel). 

The combination of high costs and the after-repair value (ARV) frequently leads me to conclude that buying a new rental property is a better use of capital.