We also had to replace two rotten walls and some rotten floor joist and subfloor.

The landlord could offer to mow the lawn and shovel the walk, while making the tenant responsible for repairing or replacing the washing machine.Landlords and tenants need to confirm what is required within their written agreement.

The exterior we removed all sheeting and replaced everything and installed vinyl to update it.

Capex is usually lower, around 2-5%, since major replacements like roofs or HVAC systems are far off.

Here’s the context:I own a rural property with two rental units:A manufactured home from the 1980s in temporary status with the county (meaning it can’t be replaced), which currently rents for $1,350 per month.A one-bedroom permanent residence that rents for $1,300 per month.My monthly mortgage payment is approximately $1,200, and cash flow is crucial to me right now.

The downside is if it gets damaged you have to replace the whole sheet.

Having to replace furniture can be a hassle and the less I have to replace the better.

Updated backyard with artificial turf, painted entire exterior of home, replaced carpet with vinyl planks.

However, if you ever want to replace that home, you'll have to move it off his lot.I would consider appraising the vacant land and trying to cut a deal that's fair.

I recommend establishing a reserve fund for major turnover expenses, capital repairs like a roof replacement, etc.