Also, since you are new to finding tenants and renting, should you get someone who damages your unit, probably not a big deal since you haven't renovated it yet.  

In your example, $250 in utility bills is much cheaper than $2500 to fix frozen-pipe damages!

Purchase price: $275,000 Cash invested: $45,000 Sale price: $400,000 Contributors: Adam Schooley This townhouse, which had gone through probate, suffered from significant water damage to the drywall and required updates throughout.

Purchase price: $275,000 Cash invested: $45,000 Sale price: $410,000 Contributors: Adam Schooley This townhouse, which had gone through probate, suffered from significant water damage to the drywall and required updates throughout.

The IRS disaster assistance page and hotline are key resources for those seeking guidance.One significant benefit for those who have experienced property damage is the potential to claim a casualty loss deduction.

Regardless, you might find the copy & paste info below helpful:)--------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

You'll have tenants that don't pay, damages made, and potentially other disasterous situations occur on your properties. 

Why it works: Automation keeps your prospects engaged while you focus on closing deals.* Leverage Social Proof in Your MessagingWholesaling is all about trust.

Sellers may struggle to mentally shift from "owner" to "tenant," which can create challenges with boundaries and property care.Security Deposit:If you’re doing a temporary leaseback, be sure to collect a substantial security deposit to cover potential damages and ensure they vacate on time.

Of course, you can always contact a prospective fund operator directly and ask them your own set of DD questions (ask for their track record, properties that the fund has acquired thus far, performance of the fund, past funds that have closed to investors and how they have performed, etc).