He and his wife paid rent on-time, he seemed like an honest guy and I really needed a new team member to help be my "boots on the ground".

Get your finance ready now and put your boots on the ground.

If I were in a position where I had significantly more units/cashflow or huge cash reserves, I would re-consider, but during the "growth" phase of my rental business I don't want to take the risk of having to pay those kind of expenses out of pocket.  

However at this phase of my business a huge out of pocket expense like replacing siding, roof and decking from a major storm would be enough to really hinder my growth for several years. 

Thank you @Lien Vuong & @Michelle Reid.We have a ground up new construction three unit project (2 townhouses & 1 single fam) on Rossmore St. in Union Sq.

I aim to do more investment deals and build more partnerships in time and maybe someday I'll phase out of the transactional side of the business altogether when I'm busy with building my own portfolio only.  

I am currently drafting a detailed sheet of projected expenses for the long term project in phases with projected cashflow to narrow down exactly how much we would need for each portion of the project.Thank you for the warm welcome!

. - I initially offered 3 months free rent to help get a business off the ground.- They came back at me with 6 months free, no rent increase until 2022, AND I need to replace the windows, submeter water, replace some decking, do landscaping.- I am just about to come back at them with no free rent, but I'll pay for their build out up to the value of 5 months of rent, plus windows/meters/ramp.Now I'm realizing that that whole package is a ton of money, and I won't make any money for over a year.

We let the lender know to continue to progress, as we had lead inspections and phase I reports lined up.

I bought a house with a mother in law apartment. I’ve been clearing almost the whole mortgage by renting the basement but we’re planning on buying a new house and moving. The house is in R-1 zoning so I can’t technica...