Studies typically cost $3,000–$5,000 but affordable DIY options (around $400–$500) exist for simpler properties.

I also received a letter from the county saying that my property is in violation of several health and safety codes. 

Hi Randall-Congratulations on buying a rental property well back in 2020.I am sorry to hear the property is now cashflow negative $200 a month.Your question is should you sell or continue to keep it with the negative cashflow.Depends on your personal goals and if being negative $200 a month plus any unexpected repairs or vacancies is affordable to you, but if you can solve the negative cashflow by turning the property into a furnished mid-term rental, for example, your future self may thank you.To Your Success!

You have to be honest with yourself, understand the risks and assess if you can afford the negative cash flow.

And the condo debacle in FL will be churning for quite a while as these rogue HOAs try to get realistic with deferred maintenance, new requirements, and freedom for people to use as they need to afford them.One thing to consider would be to 1031 all of them in a consolidation exchange. 

For a $1,500 SD, they would most likely ensure an amount close to $2,700.From my perspective, we should never move in a tenant who cannot afford their security deposit.

And oftentimes, the projects lack enough margins to afford the "best" contractors.Consider the common claim on BP: you cannot find contractors that are good, affordable, and timely.

They were not terrible, some people would call them C minus, and it wasn't even that much about financial considerations at the time (appreciation was not a thing back then in Milwaukee) but just not what I wanted to own or manage, so I sold them to them tenants - after quite a bit of financial coaching to get them to qualify for a loan.My standard advice is always to buy the best quality property you can afford.

Median rents in Austin declined about 8% last year, I believe, and sales prices fell about 3% as well.If you’re willing to consider other markets in the Sunbelt, you’ll have more affordable locales to choose from.

Real Estate, Self Help/Health, Starting my own Direct to Seller Business, Roth IRA, Crypto, and my family!