That's great if you got a home run deal, but the reality for your first one is to try and live for free, and then get better for HH #2, and then incrementally better for HH#3, as you progress in your investing career, you will be able to recognize those great deals, but it is much harder in the beginning since you have a huge learning curve. 

Just do not sink so much of your liquid reserves into a property use the banks money!

As an example I just checked AirDNA’s data against one of my rentals this week and occupancy and ADR was way off from the reality on the ground that most others I know are seeing in 2023.

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

I rationalize by saying ''welp not the right kind of tenant'' but in reality if I get 50-75 dms only half that fill out the google form.

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

Reality is, success is by saying "NO" a hell of a lot more then "yes".

HVAC duct work insulation is also deteriorated.No vapor barriers installed eitherSome fungi/mold growth notedPlumbingMultiple small leaks under sinks and from bathtub and toilets.House has Polybutylene plastic plumbing which is dangerousMain shut off valve is damagedElecticalSome small exposed wiring and bad splicing.Whole house has no GFCI's or grounding outletsInteriorMoisture spots on ceilingExteriorLose Vinyl SidingDoor Jams and Window trim have moisture damageDriveway need replacementRoofingMinor leaks noted in atticRecommended to replace roof covering, but not whole roofSome fungi growth noted in roofSo some of the question I am trying to tackle with this work is:How much should I budget for the main issues listed? 

I have not seen 4" copper waste lines but I have seen a lot of drain lines from sinks and bathtubs that are copper and that eventually tie into cast iron.

Both can be true.I understand the need of emphasizing the business side of things, but I feel like the way to do this shouldn't be to take shortcuts that don't necessarily match reality and are, to an extent, dehumanizing.