With a rental.....and we mostly purchase failed rentals.....there is always going to be deferred maintenance and things you don't expect that lie hidden in walls or under floors.  

I'm not too concerned if there are multiple unit owners with the same problem who will be sharing that cost, but I do feel it's BS that I have to pay it.The building has known about the problem of water entering for years, which they recently solved (hopefully), but proving negligence of maintenance and repair sounds like more trouble than it's worth.

You will waste SO much time figuring out who peed in the pool or didn't pick up dog poop or didn't pull their clothes out of the dryer or who stole their such and such with a high maintenance placement @Huthaifa Afanah!

I would do all the capital improvements as you mentioned so  maintenance is not a factor down the road especially in your cold area of Buffalo

They are really well run and bring in fantastic rent, but I know I don't have the desire to manage myself, and being out of state, just don't want to deal with the hassle of hiring a property manager, maintenance person, etc. 

If you see an inflation adjusted declining per capita income you need to carefully consider the long term value of the investment.Inflation adjusted income in Las Vegas has been slowly increasing (except during the 2008 to 2011 crash) and projections are that the increases will continue according to a Federal Reserve Bank study.Ongoing Maintenance CostOngoing maintenance costs can have a significant impact on profitability.

This would give me time to fix up each condo.Thank YouTommyHi Tommy, 1031 Exchange funds can be used for "routine selling" expenses such as broker's commission, title insurance costs, escrow closing fees, recording fees, exchange fees, etc., but not for operating expenses such as prorated property taxes, prorated rents, HOA fees, etc., unless you want to pay taxes on the amounts paid. 

With management in place and appropriate holdbacks for cap ex, maintenance, taxes, insurance, water, etc it has cashflow of 900/month even as a pig.  

During our stay, there was only one real maintenance issue.

I'm just wondering if it's normal practice to include tenants are responsible for maintenance up to a certain dollar amount like $100?