If you are cutting it thin, do yourself a favor and be very selective on your first tenants, don’t be won over by personality, it is 1) ability to pay...meaning salary, preferably two salaries and not alimony or anything that can dry up unexpectedly and 2) reliability (there is a reason insurance companies charge higher rates to lower credit scores).

I'm not interested in gambling where if anything goes wrong (and with notes there's almost always something going unexpected) you break even or lose money.The fact that most small-buyer-friendly companies closed or aren't selling is hurting, too.

My dad had no will and the death was super unexpected.

If your opportunity pans out, let me know.

As a result, we had some unexpected / un-budgeted reno costs but we had a pad and are willing to invest in these places for the long term. 

While we were in escrow on our first rental property (duplex), one of our tenants (lived by himself) passed away unexpectedly.

I don’t put any of my money into them and they make enough after my payment to cover any unexpected costs.

Another option is just to provide the washer and drier outlets and require the tenant to get their own.

Ask your inspector specifically to pull light switch and outlet covers and check for it.

Hello,We are looking to purchase an out-of-state, 4-to-6-unit building (the numbers don't work in my local area) and have been reviewing all of the usual outlets to locate those.