Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

If there is deferred maintenance and it does not impact safety or the aesthetic quality of the home, then I will continue to defer it!

One property looks to be abandon but still has people living inside and looks as if no one does regular maintenance on the building.

A property management company has approached me to partner with them so that they can start managing short-term rentals in addition to the long-term rentals that already manage.Their role would be the boots on the ground dealing with turnover and maintenance and I would handle pricing and guest interactions.

As long as there isn't alot of deferred maintenance, it seems like a good return.

@Wen Wang - a few thoughts:You have Maintenance and CapEx at 10% (which I am a total advocate of), but you also have a HOA fee.

I am currently looking into a 7-unit apartment building on RedFin.Location: Chicago IL, North Lawndale, low income, high crime neighborhood.Asking price: 450,000Total monthly rent income: 7162Well maintained (so claimed)What should I expect the monthly average combined costs for [ vacancy + maintenance + eviction ] ? 

@Cameron RileyI have a home office and manage all my properties + do maintenance and rehabs myself. 

She has a maintenance agreement with a tenant that is getting extremely reduced rent to keep her income low and keep her from losing the property to the state.

It seems to meet the 1% rule and it's a newer property, which tends to mean lower rehab and maintenance costs.