They usually have a process for filing a claim with the city for damage caused by them, and they may be willing to cover it.

I recently got pre-approved and am also on the hunt for my first investment property.

The left over would cover the difference in monthly payment for about 2 years.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Your homeowner policy may cover minor repair work but probably not a large construction project. 

To analyze deals efficiently, focus on key metrics like cash flow, cap rate, and expense ratios—make sure rental income covers mortgage, taxes, insurance, and maintenance while hitting your 6% cap rate target.

They gave us a pre approval on a cash out refi.

As far as rate is concerned, you can usually go about two points over the current rate (less closing costs for a seller financed deal so there is no real expense there) You need to make sure the borrower can cover that.

His "buyers" - who could not qualify for a loan because, presumably, they could not convince the bank they made enough to cover PITI payments - inevitably defaulted, and after a few months he would evict and start all over. 

The plumber insists that this is definitely a city issue, but I’d like to hear from others who have dealt with similar situations.Would the city reimburse or help cover part of the expenses for the secondary cleanout?