In other words, you might pay more or less to help them diversify their own risk pool, not necessarily because of anything property specific.At least, that was the answer on agent gave to me when I got an unexpectedly high quote on a property and inquired what the reason was.

This is the minimum needed to cover an unexpected eviction, rehab, roof, etc.

This is a two bedroom unit with the second bedroom on the third floor. bedroom 1 is done now for the living room. all the floors are glued and then screwed to prevent and squeaking and movement. just as a reminder this is a where it started to where it has come. it might look similar in the before and after but the big changes are a good size useable closet in the master bedroom 100% new electrical with at least 6 outlets per room.

An unexpected bill hits really hard if you're draining that account every month.I am at a point where I just let the money accumulate every quarter, calculate the reserves I need (which accumulate every month) and then take a distribution that I pay out to myself and any partners I have.

Ideally I would like to find something with a long shelf life, perhaps one that runs only during a guest stay or can be remote controlled by electrical outlet that I can integrate with the automated lights and door locks I have on place now.

Give the fact that this tenant has been there a week and is already asking, I'd buy an extension chord and plug it into an outlet connected to the OTHER unit.

But seeing as this land is just sort of an unexpected bonus to an already good deal, I don't really have a target for what I want to make on the deal, and quick and easy sounds great right now when I have lots of outstanding debts from the rehab of the house.Is there a good mathematical way to decide?

I only got the rent on time about 4 times in the 21 months I was renting to them.Now both my cousin and her husband worked full time jobs and had 3 small children.They always took them places and posted it on Facebook but when it came time for the rent I got every excuse in the book as to why even tho they knew when it was due...they couldn't pay until the following week.I eventually ended up threatening to evict them and take them to court when my cousin blew the electric in the living room bu6 having extension cords in just about every outlet and I couldnt get my father to the property fast enough for her.

The biggest unexpected cost was having to replace both water heaters and AC units, which brought our all-in total from $14k to $22k.

Have set criteria and follow it.Have enough safety to protect for unexpected events like eviction, lots of capex needing fixed early on etc.