Last year (just after I was on the Money Podcast) I found myself with two vacant rentals where I was paying both mortgages and utilities, not only that but I had yet to refinance the one that was a BRRRR and I had used credit cards to pay the $25,000 in renovations.

I calculated roughly sending 800-900 per month after all expenses such as all utilities, PITI, repairs, etc.

I see unexplainable debts (possible amounts owed to prior landlords) and late utilities as bad, but the rest is just the poor personal fiannce habits or life circumstances that make applicants renters rather than owners.- Having roots in the community, normally having lived in that neighborhood for several years, or in this case being close to her parents adds screening points.

Basically, if you run all your numbers - Rent MINUS mortgage, property tax, insurance, property management fees, listing fees, take into account vacancies, repairs, cap ex, (HOA fees, Utilities, lawn/snow care) and you come away with a good chunk of cashflow, then its a good buy.

I wouldn’t give them the keys until you’ve received all rent/deposits, you’ve received proof of renters insurance, and you’ve verified they put the utilities in their names.

Utility providers are not in the business of relocating power lines to accommodate a garage entrance.

What’s the utilities.

Hey BP Community.I have been in the RE game for around 5 years and it's going really well.I own 5 properties that equal 9 units now that I rent out furnished and usually shorter term (1-4 months).I manage the places myself and charge pretty high rents since its shorter term and furnished.I pay for all utilities, and wifi etc. 

In future leases, I would have a monthly “septic service fee”, because they don’t pay sewer to a utility company.

Primary Mortgage Second Monthly Insurance Taxes HOA Utilities/Wi-Fi Def Maintenance Vacancy Estimate