@Kevin MikaChase and BOA were THE WORST.

So, worst case scenario would be 18.33% of the sales price withheld during escrow (in Ca), not counting any year end tax liabilities.

My worst rentals are 2% with some over 4% and I am referring to the all in price not just the purchase price.

Boy, did I make a ton of mistakes.

Sell, then buy the worst house for the lowest price (the one with the most unrealized potential, for value adding later) in your chosen area closer to work/school with your $200k deposit, and then later, go the HELOC route to BRRRR the best compromise-properties your research arrives at between distance, neighborhood appreciation play, and rent returns.

Sounds like I should definitely factor in more hold time and keep an eye on the exterior work.I imagine you can put off landscaping and curb appeal though ;)One of the most expensive mistakes I made in WI was on a house that we started rehabbing in September. 

Listings should be truthful, but human error can easily cause mistakes.

Most people who are new to renovating make their biggest and most expensive mistakes in choosing the wrong people to do the work and not knowing how to supervise them properly, and being ignorant on how to manage a budget.  

I can't express enough how excited I am to be a part of this community - to learn from everyone's successes and mistakes, and to contribute my own experiences as well. 

You might say that's a worst case scenario, but you have to think these things out if you're going to write your own legal documents.I get that you want to encourage the tenants to keep your property nice and try to minimize your own repair costs, but unfortunately you just can't make the tenants responsible for everything.