A new owner in the condo building is worried about them and wants them repaired.

Are you looking at the maintenance/repair costs of the homes once in place, W/S/G costs. septic expense if applicable? 

.🚨 Common issues I see:❌ Not properly tracking repairs vs. capital improvements❌ Missing out on cost segregation & depreciation write-offs❌ Scrambling at tax time instead of planning proactivelyI’d love to hear from the group—what’s been your biggest tax headache as an investor?

This is something their screening probably would have caught, or their system would have a legal procedure to deal with it.

What most people fail to realize is that most of the turnovers at least the ones I’ve seen the house will need some repairs before a new tenant is placed.

A major repair can blow your entire budget.

They are responsible for repairing it, whether they have insurance or not. 

The standard legal procedure, as far as I understand in NC is the landlord must make reasonable effort to re-rent the property (which I will), and any vacant time till new tenants are found must be paid by previous tenants.

The repair was extensive and costly, requiring excavation (about 3x6 feet) to replace the broken section and clean up the mess.

While they often require some level of repair or renovation, the potential for significant returns makes them an attractive option for many investors.Why Invest in Distressed Properties in Phoenix?