The property works flawlessly for a year or two with zero repairs/calls/turnover.)

Various repair issues, bad tenant, and now this issue.

This meant I couldn’t pursue the driver personally and had to rely on their car insurance, which settled for $25K—their maximum coverage.Unfortunately, the crash added $77K in unexpected costs, including $41K in repairs and extended holding costs.

.✅ Secondly, good cause has a max cap on yearly rental increases at a certain margin above CPI or 10%, whichever is less.For those of you who own stabilized, high quality housing like we do, this shouldn’t be a problem.But instead of keeping rents flat because you are a nice person or increasing just a little bit, you could get yourself in trouble when it comes to funding future major repairs and capital expenditures.As long as you are increasing to what the market will bear, you will be in good shape.Also if you are looking at purchasing blighted, dilapidated housing with the intent of raising rents and financing improvements to the property, you will have to take this into consideration and buy accordingly and on in place rents not projected rents.On the implementation side, however that pans out, you might be able to get these necessary rent increases to finance repairs but you may need to go to housing court in order to get the green light but we are just not sure at this point and remains to be seen.✅ Thirdly, in regard to objectionable tenancy and nuisance caused by disruptive tenants, you will need to document these violations with undeniable evidence.Because police reports are not usually able to be procured due to disturbances like drug trafficking or domestic violence, you’ll need to take matters into your own hands on producing that documentation.I recommend getting security cameras installed in all common areas and outside your properties.I’ve used SimpliSafe security cameras but you’ll need to install WiFi service at your properties so that you can maintain recordings in the event of violations and add to your lease that any tampering with said cameras constitutes a lease violation as well.This is still developing and once we get further clarity, we will host a round table with legal experts on how to best protect our properties and residents.

You'll need 20% down plus reserves for other costs as well as repairs and vacancies. 

What leads to the highest repair cost? 

Subtract more for AirBnB charges, local management, repairs, cleaning, etc and there is not a lot left to pay the mortgage. 

He's essentially lost $150K.Run the numbers if he was renting it for 5 years (minus mortgage, property taxes, repairs, etc). 

Why mention the tenant will be responsible for appliance repair above ordinary wear-and-tear?

Hi Leah, I don't agree with the comments about wholesalers I've helped a lot of people struggling to get out of their properties, especially when realtors are asking them to do repairs they don't want to or can't do.