I was wondering what's everyone's process when maintenance or repairs needs to be performed in the rental property.

Our ground moves quite a bit and $150 is worth it to see if there is a 5K+ repair needed.

Double check so you are budgeting correctly.Last, I would generally NOT recommend you use your Heloc for your repairs.

So one major repair can wipe out a year's worth of profit.

If it costs $500 to fill the oil tank and the tenant leaves it empty, that's $500 less you have to cover unpaid rent, cleaning, and repairs.

Purchase price: $55,000 Cash invested: $110,000 Sale price: $205,000 This was a 1950 raised home that needed extensive foundation repairs as well as all plumbing, electrical and subflooring.

Complexity in Management: Managing multiple properties as collateral can complicate financial situations, especially if one property is underperforming or requires significant repairs.3.

Ensure you have an emergency fund for vacancies or repairs and verify market trends to confirm the investment supports your long-term financial plan.This post does not create a CPA-Client relationship.

Repairs and Maintenance are not cheap and shipping carpet/furniture/etc to Hawaii calls for huge price premium so I would be sure keep a reserve for replacements.  

Opportunities like this don't come along often and can be the foundation for your future.You just need to know what repairs are going to come due and when, and start learning about how to be a landlord.