You can't have your cake and eat it too.

I'll usually eat $100 - $200 worth of touch-up cleaning for a long-term tenant.

This gives much better diversification protection across geographies, asset types, strategies, investment subclasses etc. versus putting all the eggs into one basket.The downside is that it's not for everyone, and a person has to be comfortable with turning over control to someone else.

I have to eat I will get back to you in the moring.  

Why do I need to tell people where to go and eat when they have Google and Yelp?

This can eat into your profits significantly. 

That means, when they are damaged it doesn't eat up the whole security deposit leaving more money to cover other damages better protecting me. 3.

I would say for most people, the 1st position heloc is no a good bet, especially if you have a 1st mortgage rate of less than 5%.Using this strategy with a 2nd position heloc can be just as powerful, so you can have your cake and eat it too!

@Chris KayCosmetic Updates - If you focus on flooring, paint, fixtures, and a basic kitchen and bath refresh, $50k is doable, especially in markets like Michigan.Full Kitchen and Bathroom Rehabs: Depending on finishes, these can eat up to $20k-$30k alone.

Sometimes less is more and just taking the step to buy one more might be better than selling your goose that laid the golden egg in the existing successful house.