Just bought my first 3 properties for STR and would love some insight on pitfalls to avoid and things to focus on (my properties are by the beach or on the water.

So I'm thinking of setting a fixed monthly surcharge for heat and hot water, plus a charge for the 'free' laundry I provide.

I believe the hot water heater should be flushed once a year but past that I don't really know.

If I the landlord were to break the lease and no longer provide water to the tenant, they would not be happy.

That means you'll be working your a$$ off trying to stay above water cashwise, banking on a future event you have no control over to recover the cash you spent. 

And I'm not just talking about the charlatan doomsday predictors that try to sell you a news letter on how to navigate the choppy waters. 

Ideally, you make the laundry room in the same area you store other mechanical - like the water heater... 

Since then the current own claims to have replaced the roof and has had the furnace and water heater serviced.

View report*This link comes directly from our calculators, based on information input by the member who posted.HARTFORD, CT490K LISTING PRICE150K - 25% DOWN PAYMENT PLUS EXTRA (JUST IN CASE) VIA HELOCCOVENTIONAL LOAN 30-YEAR AT 3.99% INTEREST RENT - $900 PER UNIT, COULD GO UP TO $1000 PER UNIT (AS PER RENTOMETER, ZILLOW, AND BIGGER POCKETS)UTILITIES - "GUESS-TIMATED" $500-$1000 (WATER AND COMMON AREAS-LIGHT)2 BED ROOM, 1 BATHINCLUSION OF PROPERTY MANAGEMENT

You can get in hot water that way legally as all LLCs could be argued to be operating as a single entity and thus pierce the corporate veil.