Now they are asking for the items back.

The only issue with these is if you need to redo siding, roof or other common/shared items, you and your neighbor have to agree on paying for it and coming up with the money.

He's pretty handy but doesn't want a lot of time spent fixing items up or upgrading.

Many items below $2,500 can be expensed rather than capitalized, which also reduces your depreciation recapture later in the life cycle of the property.  

Yes, one can setup an LLC online for under $100 but there a few check boxes that are critical to be selected correctly and I always recommend paying the professionals to handle sensitive items like this.I would also suggest you have the attorney listed as the registered agent of your entity so your name doesn't show up on any public records.  

Doing some rehab is generally one of the more common ways to do so.One other item to add, when analyzing a property in a hot market, looking at cash flow and cash-on-cash return alone doesn't give you a good picture.

I actually use 10% of the gross rents whatever that number is.Instead take that $3000 at the beginning of the lease and put into Crowdfunding account for 11-12 months @ 7-8%.If a capex item or repairs comes up in inside the lease term, use a 1% cash back credit card to pay for the repair, and use cash flow to pay down the CC until the Crowdfunding contract matures, usually 11-12 months if you can find one like PeerStreet is what I use (1K mins).Now this assumes you have the full maintenance reserve set aside up front and that your cash flow can handle the $250 or 10% a month reserve to begin with, but I always factor that in.Basically I'm leveraging my maintenance reserve for short term private funding and not letting it sit in a checking or savings account at .05%.  

Hello!We are in the process of screening new tenants for our rental property. I am beginning to wonder if there are renters out there who do NOT have things in collections?? To me, having accounts in collections shows...

I have a home that is for sale that just had its inspection and there are several things that need to be fixed but I would prefer not to go through my contractor since he would be very expensive.The items are things like patching a small foundation crack, scrubbing a small bit of mold from the crawlspace and fixing the alignment on one of the closet doors, etc. things like that.Appreciate any referrals!

Should I be having scheduled inspections of certain items on the property (AC, plumbing, roof, etc.)?