As for your out-of-pocket costs, it really depends on the property and your specific situation, but budgeting around 5-10% of the purchase price for these extras is a good starting point.

Last time I did that, my costs came in right at $1000.The OP is vague because it does not address size or location of heater, type of fuel, self-install or hired, permits required or not, and whether or not they care about a specific brand.  

Specifically, a HH can substantially lower your living expenses, while increasing your income.

@Robert Maxwell, my advice: listen to the first 300 episodes of the BiggerPockets Podcast and then return to forums when you have a specific question.

I was wondering if anybody had some area specific issues to keep an eye for and what are the BIG problems to avoid.

This residency requirement would apply for a specific period, so it's important to be aware of its potential impact on your plans.Its important to carefully evaluate the distinct investment opportunities offered by Colorado and Florida.

If you have specific questions about property management, I'll be happy to help!

Stay updated on market trends, regulations, and new strategies.Feel free to reach out if you have any specific questions or need guidance along the way.

I reside in Massachusetts and my boyfriend and I want to purchase a vacation home in a specific resort in Davenport FL.

While I do not know the specifics of the purchase or exact location, I understand the Philadelphia market well enough to place this property in a lower tier neighborhood based on the ARV Mario shared.