Loan Covenants MATTER its not about excitement  boy o Boy I got a loan for 50 units  but have no clue how it works if you hit a rough patch..  

It’s so exciting but I know there are going to be rough patches, we’ve just gotta push through them and thanks to BP and everyone on here it makes it seem a little less worrisome!

.$400I build in Prop Management just to be conservative but I'm going to manage the property until I get to the 5 property mark.Now the bad/unknown.Each unit has an individual furnace but they are all 25 yrs old.The exterior stucco needs patching & painting.The roof is stated to be in good condition, but I think its got to be 15 yrs old.I'm trying to research how this property might appreciate in value over the years. 

Carpets smelled of urine; patches and clearly mismatched paint; front door key/lock not working correctly.  

If it does need a re-pipe, and new electrical wiring, then expect to gut to studs, patching swiss cheese is more labor intensive so it is better to gut and start fresh. 3.

The siding is cedar shake and quite old, I could patch the area again with wood but I am considering re-doing the siding since this is a 100+ year old duplex and that would need to happen at some point over next several years anyway.

We have had a crack in the stucco patched up in 2016, then major exterior work done in 2019 to our house (and our whole development due improperly installed windows, no drainage, rotting wood/stucco damage - builder fortunately paid after getting lawyers involved).

Why not leave the stained concrete and just redo/patch it?

Take any money you have now, invest the money into something that makes more money and then you will have even more money, later.I own several apartment buildings that are long over-due for new roofs, but I keep patching the roofs with tar and that white gooey silicone.

I don’t stay around to see the repair but this is done after city inspection has been passed so only a patch job is done.