Also want to add that she had multiple violations such as having a dog with her while her contract states no pets and she was contacting repair facilities and acting as my agent or pretending to be a property owner and interfering with repair process. 

@Zachary EngenMost lenders will allow a cash-out refinance of up to 75% of the property’s appraised after-repair value (ARV), not the purchase price or costs.

I saw last week that you can get trained on the JOB to repair Elevators and start at $150,000 a year.

House can be in need of repairs, but not drastic.

I use Executive Villas and they just charged me $500 to repair some table legs and replace the batteries on a remote.

A couple expense assumptions:Insurance: .6% of market value per year ($1300 to $1700 for garden variety SFH)Repair buffer: $50/moPM: 8% of gross rent + 80% of first months rent HOA: Ranges from $0 to $50/mo.

He bought the property pre COVID, so his cash flow is definitely going to be different than what mine will be.The question I'm wondering if its a good idea and if the numbers make sense.Purchase Price: $100,000Down payment: $20,000 (20%)Current cashflow: $900Property manager: $90 (10%)His expense for 12 months was only $1,430 (inspections, repairs, management, eviction services). 

Have a robust cash reserve to handle unexpected vacancies, repairs, or market shifts.Good luck, and I’m excited to hear how your journey progresses!

I had a full inspection and there were some minor repairs done before the tenant moved in. 

I'd two project worked with Robert Mincey, 1.For one project it have serious defect that scares my buyers away, when I ask him for the repair, he told me that I did the sabotage to the property myself, and he owns 0 responsibility for the repair and warranty2.For another project I wanna to fire him but he states I owns him more than $5K even though I already paid him 200% over what he had completed.