They will also pay for a new roof it you get hail damage for instance.

It ignores vacant unit, clean up and marketing between tenants, eviction costs, damage, routine maintenance like the roof, hot water heaters, appliances, lawn care, snow removal, etc etc etc etc that are all real costs whether on an annual or some other recurring basis.In most places, if you can offer an investor a property with little deferred maintenance that is generating rents at 2% of purchase price, they are going to jump all over it.

This $750 over the lifespan will cover 2 furnances, 2 A/C units, 2 hot water tanks and 1 roof.

My apartments are 30 years old.I have a maintenance guy do unit checks every 2 weeks.Basically checks water heater,heater,outside unit,light bulbs,ceiling fans,electric,plumbing,etc.We have water included in rent so stuff like replacing springs and o rings in the showers to prevent drips and replacing flappers in toilets to keep the water from running all the time.Sometimes the shutoff valve at the wall for the toilet doesn't close all the way to off or the float mechanism goes bad.You can buy a water pressure tester at Lowe's for 9 dollars.Just screw it on check for pressure.Should read 60 to 80 pounds.If it's higher than that you have to find the pressure regulator valve next to the water cutoff for the unit and adjust it.After adjusting if the pressure doesn't go down to 60 to 80 you have a bad pressure regulator that needs replacing.The importance of this is pressure is set for the cities and counties at around 160 for the fire hydrants.If pressure is high inside the apartments it can cause leaking and premature failure of plumbing parts.On the insurance we are required for replacement value and can't do market value.

Some idiot left a (ball check) in place fully inflated on the 3" line.No wonder water form the tubs wasn't draining.Apparently there was work done to the kitchen 7 to 8 years ago before I bought it a few months ago.The plumber says the ball check is to check holding water and pressure test and then is supposed to be taken off and a regular line used or just remove the ball and cap the pipe.Instead he said many times dry wallers just goes over it before the plumber comes back and the plumber says screw it and leaves it.I just couldn't believe it but the plumber has found this before on other properties he has worked on.

I had a tenant run up a $1200 water/sewer bill and get evicted - I had to pay it.

We both end up gutting kitchens, water heaters, baths, all flooring, etc so the minor things don't really matter.

As far as being a burn out (fire damaged) lots of rehabbers like these types of properties.

There is a pool, playground and basketball ct.Specifics:$150k cash for all 32 units.Expenses are higher than usual as they include a $300 per building HOA cost for pool and landscape maintenance.Owner pays only water about $125 per building.Property tax:$1300/buildingInsurance $600Vacancy needs to be assumed highBuildings were built in 1971 so expense ratio will be above 50%.Onsite resident manager and super on site in exchange for free rent of a 2bd and 1bd.Although price per door is less than $5k the high expense ratio, low vacancy and sketch neighborhood have my ROI questionable and giving me very cold feet.

The notice shall contain a statement in substantially the form: This is a notice of my intention to impose a claim for damages in the amount of upon your security deposit, due to .