2) they rented a house with a water softener ("we intended to move it") and checked to make sure it worked and was staying--it wasn't but that wasn't mentioned to them3) they rented a house with a heated pool, learned the heater didn't work and asked you to deliver what you promised. 4) you say "we want to keep our equipment in good condition" and use a regular pool service--but you haven't kept it in good condition (the heater didn't work and you didn't know it) and regular maintenance is a  minimum standard of professionalism, not an above and beyond thing Now, I'm not saying they ARE reasonable or that you are the bad guy, but part of what set the stage for this is you not delivering the product you promised, then being irritated at the tenants for asking for what they were promised.Flip this around to their position for a second: they show up, there's noticeable damage that wasn't there before, lots of stuff they thought worked didn't, landlord argues about making it right and seems not to think it matters, contractors don't seem to respect them or their time (why do you believe the owner not them by the way?)

High Turnover rate, training toward self reliance, and having to relearn what you areas of focus is each transfer.I was able to pick a copy of ABC of Real Estate by Ken McEllroy (Commerical/ Multi-family), Millionaire Real Estate Investor by Gary Keller, BP's Creative Real Estate, and Hold by Gary Keller.

Some might argue this point, but in my opinion, if you have big capital to invest, try to walk before you can run!

So, you could argue equity as low as $650,00 and as high as $1.2.

Total rent = 2K/morSame house plan in D neighborhood worth 25K rents for 650/m x 8 = 5200/m and diversityEven if you assume that your repairs are going to be higher (I would argue they are similar because I'm not using high end materials due to less picky tenants) most property managers will give discounts for having more units under management so my expenses actually get lower the more I buy.  

Some might argue about the overcompensated part of your statement lol.  

Sure, I could charge off each missing bulb against the deposit, but how much time does that take, along with the conversation I'll have for sure have with the tenant arguing about them not wanting to pay the charge, and what is that costing me per hour?

@Shiloh LundahlSounds like your partner is thinking more like a real estate agent and less like an investor by asking for the $11k in "expenses" Don't get worked up about it or argue try and show him why he's wrong.

I'm arguing that my performance is worth it vs how many hours I put in a week.

I can't argue one way or another if my way is more profitable or not but I can tell you that my homes typically sell at full ask price and quicker than my competition and that is valuable to me.