I recently had a(n inherited) tenant vacate a house, owing more in rent and damages than her deposit will cover.  

We do have a few pieces of plywood and could cover some of the windows - but not all.  

All the tenants are currently on month to month leases and the rent is below fair market and the screening process they went through is very shady and 2 out of 3 tenants do not pay on time.

This whole time I had it covered under my original homeowners insurance.

I like to manage the property myself because I like to have control over tenant screening and marketing.

I like to manage the property myself because I like to have control over tenant screening and marketing.

hi,relatively new to the game. i have a property with good potential in an area i think will appreciate well. in my current situation, i am not strapped for cash and can save 7-8k month for real estate purposes alone with my current job. this will be by first SFR and goal is to have at least 12% COCROI and have a minimum of $150+ using the 50% rule. im more or less in it for the long term game and want to retire with a rental portfolio that can supplement my income within the next 10 years. here are the two scenarios for the following property:property: $65krehab costs: $10kclosing costs: $3,200wholesaler costs: $2,500i plan to put 20% down on a 30 year fixed loan at around 4.8%Scenario 1:I cover out of pocket for rehab and wholesaler costs as well as downpayment + closing costsProperty: $65kRehab: $10kWholesaler costs: $2,500k Downpayment: $13,000kClosing costs: $3,200Total cash needed: $28, 710COCROI: 12%Monthly cash flow: $28850% rule: $313Scenario 2:I finance the rehab and wholesaler costs through my bank.

These goals should be very simple:1 - You need to pay off all your personal debt2 - You want to have enough passive income to cover all you monthly bills3 - You want to accomplish this by a specific date.4 - You want to have fun doing this.Once you set these numbers, you "reverse engineer" from there, establishing as series of groups (elements of the steps above) called "measurable milestones".  

When you put no money down, it can be tight on multi families, even if it looks like the rent will cover the whole PITI, even with extra left over!

Turns out the drain pipe on the tub is leaking and the ceiling was just covered in mold.