I had tenants that stopped paying rent for 2 years in NY during the pandemic and we couldn't kick them out, i've had tenants move out and leave someone squatting and NY made it impossible to evict them so I had to pay them off, i've had tenants destroy their apartments before they moved out (maggots in the fridge, flushing their kids toys down the toilet etc) so i've dealt with real difficulty.

The way it was explained to me was that I had to give them 60 days notice to leave the property.

My mortgage will be $2,005/month, and I’m budgeting up to $600/month for utilities, leaving a potential monthly cash flow of $995.I also set up an LLC and a business account to track rental income and expenses.Questions:Do you have any advice for me as a young real estate investor?

This leaves a $172K gap.

Man, just in 3 years if you have the tenant leave every time, even without the negative cashflow, that alone can cost you an additional 20 or 30k.

Unless, you are going to leave it in the S&P 500 for a significant amount time, I would just ask why you want to invest it in the S&P 500 opposed to somewhere with less risk?

I also always keep my rent increases in line with the local market, so sometimes I'll have tenants threaten to leave sometimes, and once they do their research they realize that it wouldn't make sense at all to find another property and end up paying the same thing.

I’d also make sure I didn’t leave anything out like most people do.

They were also more likely to smoke in the house and leave burn marks on furniture.Now, I’m shifting my focus to families and business travelers, especially since we’re only 5 miles from the Houston Medical District and major attractions like Minute Maid Park (home to Major League Baseball's Houston Astros), Toyota Center (home to the NBA's Houston Rockets) and the NRG stadium (a multi-purpose stadium with seating capacity of 72,220).

Maybe look for a different type of tenant that doesn't leave every year or sell the place if it isn't meeting your other investment objectives.2) As PM's we always seek prior authorization for expensive turns or capital projects, even though the estimates given to our owner-clients are often ball-park numbers.