You and the OP don't like what I have to say and that's all.

I know, this post is in response to this OLD POST from "Account Closed" who is the Original Poster (OP).

I want to provide a quasi-co/op property management service.

It's being gutted now, we'll see what it goes for after all is said and done.She turned 80 and moved out earlier this year to another affordable place in Manhattan, this time a co-op.

Just stay cheap and invest everything you can, OP.  

You cannot bill them for the water if its not submetered but you can put in the coin-op machine as long as your lease does not state that you're providing them with a laundry machine.

If so, the OP may not have clean hands.

This is what I do....I'm guessing the OP is talking about month-to-month rentals, not vacation rentals...?

OP should do his own research to determine what's best for him.I lived in Michigan for two years, have family and friends there, and dream of a lakefront home some day.

The OP asked a question on how much to set aside, your answer to that seems to be get a LOC, but not everyone has the luxury to have a LOC.What will you tell a new investor who has bought a rental property to do in order to protect himself against surprise expenses if he doesn't have a LOC available?