I've recently started working as a roofing contractor here in Kansas City, an area that sees hail & wind storms quite a bit, and it's made me realize a few things.

I was under contract, and the house got hit by and damaged severely by hail. 

After the offer was signed by both parties the buyer who is a builder had his roofing contractor go up on the roof & found hail damage ( no notice to me of the inspection).

Appliances were only a year old, all toilets were new, freshly painted on the outside and a brand new 30-year roof after it was replaced from hail damage.

That move may have trickle down effects in the Tulsa economy.Insurance costs can often be higher in the midwest due to hail storms.

I would look at all the major expenses you’re likely to have during your hold period, (Roof, water heater, driveway, Sewer line, furnace/HVAC, paint and carpet/floors every turnover, appliances, etc. depending on how old each of those items are and how long you plan to hold, plus few thousand here an there for that nightmare tenant who ruins everything, the hail storm, the plumbing leak that happens when your tenant is out of town and turns into major flood damage, etc. it adds up quick) total those up and divide by the number of months in your hold period, there’s your monthly budget. percentages are garbage on these low rent properties, easy to get in trouble thinking any percentage of a low gross number will be adequate. 

Again, hail, oh King!

Indy can be subject to hail storms.

Hello BP,
Excited to be posting for the first time in the BP forums. I’m 27 working full time in IT here in Denver, CO. Like a lot of others, reading Rich Dad Poor Dad was a paradigm shift for me. It changed how I vi...

.), while property coverage provides coverage for any incidents where the property gets damaged (ex. the roof shingles get damaged by a hail storm or hurricane or the property burns down because of a fire).