I am surprised more folks dont do it - you do need a business account and your business must be approved for x amount of a LOC just to cover rent if something were to happen.

The landlord should determine how much the fines may be and deduct enough from the tenants deposit to cover those fines. 

It would depend on the individual property too if it's something that has all older mechanicals and roof, you would probably want to factor that in.

If I can't increase the bookings enough to cover the expenses of running the house at least we are going to have to sell it.

Will you be leasing out your existing home to cover the existing mortgage? 

I'd think the tenant would cover the whole bill, along with the other utilities.Vacancy looks low.

MF2 is still the only house on the market as most lenders won't let you finance a foreclosed MF1.What does buyer 1 do to have a roof of his/her head?

Now if you do it long enough, that will happen, but you want to avoid that by having enough spread to cover the downside risks.As J stated, a 15% of ARV profit is a good minimum to go off of and anything above that will be your gravy.

I mean incompetent, didn't check ages of utilities, didn't go in attics, crawl spaces, test any electrical/plumbing, didn't go on or look at roof...

We backed out of one after the inspection found several problems including 2 bad HVAC units, roofing concerns, a tenant who had torn up his unit, and dry rot on soffets.