You don't want claims (especially large claims) on your record, this will help prevent this.

It is impossible to make assumptions on income going forward as it depends on the property type and management decisions regarding preventive maintenance and future capitol expenses.Some properties have negative, zero or multiple hundreds of dollars of positive cash flow.

Hi guys, my name is Ben and I am a 31 year old business owner in Chicagoland who is looking to invest the money I make in my business into something that will build residual wealth over time–namely, real estate.My wife's father has been rehabbing houses for flipping, as well as hold/renting properties all over Chicago and Colorado, but has a really old-school way of doing it which is prone to issues.I am looking to learn how to do it in today's market and how to be smart from the get-go so I can avoid common newbie mistakes and prevent as much headache and losing money on bad deals as possible.Looking forward to getting to know everyone!

But I'll do the absolute most I can to educate myself and create a system to prevent as many problems as I can.

I currently work full time as a Century 21 real estate agent and part time overnight at UPS as a high value associate in their loss prevention department.  

Originally posted by @Charlie Fitzgerald:If leave it alone...it's 500 to paint it and 5 times that minimum to unpaint it... ditto... that's a beautiful 'natural' ceiling so why go to the unnecessary expense.

Doing it yourself the first time you run the risk of having this LLC preventing any of the protection really being enacted.

But if you don't have a NEED to sell, then taking on unnecessary risk doesn't put you in a better position, if anything, it may be worse.

@Nikki Grizzle - the road of least resistance (prevent communication issues) is to hold the tenant responsible for anything that's not normal wear and tear.

Right now my short term goals are to free up any month-to-month unnecessary expenses so that I can free up cash flow to invest.