., repairs, management, communication with the seller).Exit strategies in case things don’t go as planned.When you do find the right partner make sure to create a joint venture agreement that outlines all of this clearly.

I stack cashflow for capex and repairs because I have a decent W2 job that I live off of. 

Never buy without personally inspecting and approving the property and INDEPENDENTLY, INDEPENDENTLY, INDEPENDENTLY, verifying everything from values to market rates, to approving tenant selection procedures and standards, to repairmen on standby, to everything else in Christendom that you can thing of.I am not a fan of out-of-state investing, especially for those with less than 50 years of experience, and for them, they’re probably too old for the hassle. 

Maybe seller financing.But let me ask this question, what happens if in the third month the furnace goes and needs $2000 worth of repairs?

A few others have called out Hemlane, who appear also quite responsive here on BP and also offer a degree of repair/work order management baked right into their middle/upper tier offerings (versus having to bolt-on as with RentRedi + Latchel). 

Mortgage rates at 7% 2. 25% down3. 10% of current rents budgeted for capex, monthly repairs and maintenance and property management fees. 

Told me the violation wasn't corrected in the 30 days required timeframe (yes you are correct, the repairs were done in time but they didn't come out to confirm). 

Quote from @Ricardo Polanco: Good evening everyone, I am evaluating the possibility of buying a multifamily property in Scranton, at this moment it has 2 apartments that only need cosmetic repairs and it has a big 2nd floor unit that needs a full repair.

This will reduce your risk and cash invested and if something goes wrong you wont be bled dry with never ending repairs.

Expenses incurred before the property is in service are considered capital expenditures and must be added to the property’s basis rather than deducted immediately.This means costs like rehab expenses, repairs, and other improvements made before the property is ready to rent are added to the property’s purchase price and can be depreciated over time once the property is in service.