If i buy a property only to cover the mortgage, then come out of pocket for repairs, then it sounds like more of a flip than a rental property.If cashflow doesn't cover all the operting expenses, it doesn't necessarily mean it is a bad investment given appreciation.

@Ko Kashiwagi My understanding is that one can still execute the BRRRR strategy and successfully cash out, but due to high interest rates, the rent may not cover the mortgage.

Obviously I have grounds to terminate the lease, but I'm wondering if legally I can just increase his rent to cover the extra wear and tear.

Also, we filed a claim this year due to the hail storm in South Milwaukee so our roof was covered in that. 

For example, they won't need to cover your personal belongings (furniture, clothing, etc.) because you won't be living there.A landlord policy should cost about the same as a homeowner's policy; it just changes what is covered.

Opex has been a huge hit to most property owners in all shapes and forms, myself included, but to know to keep your back wide enough to cover your own you'll be able to navigate these waters just fine. 

Sorry one additional item I hit post too soon...The reason I asked about TIA is because you generally want to get a contractors opinion of cost prior to lease during that negotiating phase so you know how much that TIA covers and what you'll be coming out of pocket for.  

Thanks @Jason Bott do you know of ones that may cover the same in Texas? 

Did you borrow money from a local bank/credit union for the remainder of the purchase price or did the funds from your 1031 cover all of it? 

Large driveway with covered carport.