Broken windows, locks, pumps, electrical… It was always something to eat away at the rent, then found out the tenant moved out after not receiving any money for months and the property manager never told me.

During COVID I took the time to upgrade my units, and actually am just finishing a full renovation in one condo at Windsor Hills.

knob and tube wiring/2-prong outletslead or galvanized water service lineancient mechanicalsancient windowscracking/broken/termite eaten floor joists in basementand so many more....none are deal breakers but each can be expensive to fix and several together can be a budget buster.

I would have to work under a Principal Broker to manage property for at least three years, until I could upgrade my license.My question is; is it worth it to work under a Principal Broker for three years and possibly have to employ one if I start my own business? 

My goal is to Brrrr/house hack from 4 unit at 5% down to 3 unit 5% down, 2 unit 5% down because my understanding is the bank looks at it as an upgrade of living so allows a lower down payment.

There's of course hidden fees like upgrades, price of the foundation, land, zoning challenges, connecting to sewer etc but I'm curious as to someone's actual numbers on their experience with one of these (modern or traditional). 

@John Underwood I have no problem with getting my places rented right now, I don't even have time to do simple upgrades before the new people want to move in, let alone smart technology upgrades.

This duplex had some recent upgrades to flooring, painting, hot water heater, appliances, etc.

His phone hot broken and he didn't bother to call me why Rent is being late. 

I expect same rent as in report for a year until I do some upgrades on interior and raise it about 200 each.