We are local contractors in the area looking to get our feet wet in the real estate investing waters.

This house had 12” of water/ice in the basement... there’s a nice sump pump set up just sitting there with no power...

So at the end of the 5 years, you are just treading water with the lower price point home, while you made headway with the other one. 

If it is, I would do whatever I could to get good paying tenants in there right away,  If it is vacant, you are going to be running through cash like water through a sieve. 

If I buy a house for $400k, and the market drops and the house is now worth $300k, I am under water.

However, if for example, the company did not install or disconnect the washer and dryer correctly (such as leaving a valve on) while water is turned off prematurely, causing damage, what language do you put in the Lease to also hold other parties accountable such as ALE and appliance install company?   

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). 

Im not a lawyer, Id flip that house though. maybe get the priest to come throw some holy water on it. 

We had 21 units that took water that day, and it was a rough month.

There were plenty of challenges from removing a homeless person off the property to a water pipe in the basement letting go.