If they are on the deed, the property is owned as 'tenants in common'.Is there a tenants in common agreement?

Some places do this annually, some places do a portion of the town every year giving them a total cycle of about every 4 years, and in my area it’s common to do a whole town reevaluation every 4-5 years.

I've asked my clients a similar question and have developed tools for them to minimize this, but I find there are a few different types of clients.Manager managed - these folks have no issues as they simply upload their year end statement from their property manager, their 1098 mortgage statement and any other one-off expenses they may have paid for outside of the management company. 

However, for major issues, STR insurance ensures you're fully covered.

The issue is the down payment is over $250k and no one has that or is willing to fork over that amount.

One of the most common mistakes beginners make is jumping into large rehab projects without having a solid team or boots on the ground. 

Overcrowding can strain plumbing, electrical systems, and air conditioning, leading to expensive maintenance issues.

So, communication and assignment issues, as well as not being able to explain the maintenance issues and the required work.3) Proper documentation and quality of work issues.

Quote from @Robyn Henderson: My family's 3 unit prewar building in Brooklyn recently had plumbing issues and I'm debating renovating each of the bathrooms.

I don’t know how common vacancies are but I would say I could cover about 4-6 month in case of an emergency