A 15-year old unit is built with all the most-modern pasts and most-likely only a motor burned out, a switch is broke, or it needs a little refrigerant and the cost for any of those items should not exceed $800.

@Carol Burns Yes, you could do a 1031 exchange if these are investment properties.

This DOES stink, but the place didn't burn to the ground and no one murdered anyone in your rental property. 

A definite step up from the family of horrors that came before (had to clean up poop smears and replace screens that were burned through with cigarettes...that were expressly forbidden in the lease). 

Section 8 can be a great tool, makes a lot of sense to go that route after getting burned by a professional tenant.

If you're mentally and financially prepared for that, you will be ok.If the rent range in your area is $1200-$1400, then run the numbers as if the property will always rent for $1200.If the property management fees in your area range from 6-8%, run the numbers at 8%.If you think repairs and maintenance will amount to $100 per month, set aside $150 per month.Having some disciplines like this will keep you sane and allow you to continue to scale instead of get burned.

Financial freedom, and no longer paying/burning money towards rent.

I have seen so many Landlords get burned by making verbal agreements with their tenants only to get burned.Whether the tenant is a licensed contractor or just a handy Tenant, keep the rent and work separate.

UTILITIES: Tenant must keep utilities on until check out procedureis finished.LIGHT BULBS: Replace burned out bulbs or a $1 per bulb chargewill be taken from the security deposit. 


There is a saying: pigs get fat, hogs get slaughtered.