.- You close on December 10th- The property is in great shape and does not need any significant repairs- It only needs some paint touch-up and changing a couple of broken fixtures, which you do yourself- You spend the next week buying furniture, electronics and supplies and installing/arranging everything yourself- You also roll up your sleeves and scrub the toilets and sinks and appliances- You put it on AirBnB/VRBO and have your first guest renting it for the 3 days of Christmas- You second guest rents it for the following weekend and leaves before NYE- You personally clean and restock the place between these two guestsCongrats!

You might hit a few bumps in the road...tenants who imagine due dates are more like suggestions, or unexpected repairs that crop up at the worst possible moment...but that’s part of the ride.

If we find damages, we withhold the necessary amount from the security deposit to cover repair or replacement costs.

I’m not skilled in repairs and live in a high-cost, tenant-friendly area, what would be the best way to invest my money?

Total hands off, perfect property, with awesome tenants who pay on time or early and never ask for any repair. 

Getting seller to do repairs. 

I got a very good price on the building (about $25k per door), but it was a ton of work as in addition to tenant issues, there was TONS of physical distress (foundation repairs, sewer line and water line repairs, electrical upgrades, new roof, and apartment renovations needed for all units). 

You are best off getting a plumber out there ASAP to identify the leak and repair it.

Tell them to get out in seven days, use the deposit for unpaid rent, cleaning, and repairs.

If you plan on keeping it a long time I may wait to fix it but if its something you would consider selling in the next 5 years I would get it fixed as going to sell it you will need to repair it and costs to fix this are not gonna get cheaper as time moves on.