I advise they take it up with their bank and make sure they tell the bank the costs they have incurred.Surprisingly good tenants always seem to take it in stride and the PITA tenants always get upset when I impose a fee.

Make sure you have cash reserves for 6 months , steady w2 job if things go south and do not plan unnecessary big ticket items until you stabilizeI have known people start with 40 k and used it to fund flips and work their way up and get Business Line Of Credit for 200 K in 2 years and after that of course it is very easy

This is the problem I observe with most when in comes to entity formation and asset protection. 99% of the individuals who post questions in these forums are for some reason pushed to believe they should at least research entity structures that are completely unnecessary.

Until more investors learn to operate their real estate businesses correctly they will be at the mercy of greedy asset protection services who take advantage of their own naiveness and upsell on unnecessary services.

I know often times people on this forum say they are unnecessary and don't always protect against liability and just get a good umbrella policy.  

And they're doing it for less money...maybe you should be talking to them.Also, for someone doing 30 deals/year, having 3 part-time assistants seems a bit unnecessary... :-)

The HOA will either raise assessments or impose special ones to deal with repairs or necessary improvements.

If your goal is financial independence with $X passive income by a certain date, then being frugal with your money or your personal time isn't "unnecessary", it's a choice.  

Just check the city's ordinances though before you put them out...some cities and municipalities impose fines to those who put out signs without permits.

If a couple weeks pass and the relationship isn't working out, I'm happy to let clients out of it because I try to avoid unnecessary headaches and wasting my time.