Everything else - the inevitable routine maintenance, the occasional serious maintenance, vacancy, legal and CPA costs are all out of pocket.

I have a guy going to paint house and fix and replace bi-fold doors, doors off hinges, some light switches almost all is cosmetic just one small plumbing issue.

Most major lenders and GSE's are now using this language in their documents (such as the Well's Fargo and BOA Affidavits).2)As far as Watson being a so called guru I don’t know about that but he is however nationally known as one of the best short sale lawyers around and routinely called upon buy title companies for legal advice and guidance when it comes to properly closing these transactions.

I look at what is my biggest expenses and routinely spend time trying to figure out a way to save without sacrificing too much of my time or the tenants.I self manage all my properties and place all tenants.

My intention is to sell my contract to a rehabber/home buyer interested in a total fixer upper (the house looked like it needed major cosmetic repair-can only wonder what's inside).Once they call back, I will pick up and....then what?!

In my area we do simultaneous closings routinely.

I have 0 interest in flipping or gut rehabs, but am okay with places that need some plastic surgery / cosmetic work.My current plan is as follows:-Buy as many SFR or 2-4plexes as my cashflows and debtload can handle, while meeting the 2% rule.

Required down on a non residence is 25%.This particular duplex needs a basic cosmetic rehab.

It says right in the lease that the landlord will repair items rather than replace them.Just because a stove takes awhile to heat up doesn't mean it doesn't work and you can demand a new one.We also explained that many items they sent us on a list were COSMETIC ITEMS and that the tenant accepted at the time of move in.Only mechanical issues needing repairs and other structure items would be fixed.The other items they were informed would be fixed on their dime.After a couple weeks they stopped asking and still live there.

Especially when I know the sellers can't afford to do routine maintenance and certainly don't care about the long-term condition of their house.