The cost of the materials was $1,500, and including labor I’d estimate this cost me about $3,000.The property manager never ran this by me or gave me an indication these project would be completed.Our service agreement is clear that written consent is needed when costs exceed $1,000 and in this instance these were not repairs and requirements needed to rent the property.

However, it can be time consuming.  

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23DSCR lenders generally let you vest either individually or as an LLC.

It is usually simpler to hire someone to maintain the property and include the cost in the rent.

@German Tapia here's some advice:1) Anyone that has to call themselves an expert - isn't.2) Many looking to help - are actually trying to sell you something (us included)3) Big difference between City of Detroit and Suburban Detroit area.

To make connections with other investors, real estate experts, and possible partners, go to local real estate investing clubs, meetings, and networking events.Leads/Properties: Explore via a variety of channels, including direct mail marketing, networking events, and internet platforms like Realtor.com, Zillow, and MLS, to locate leads and properties.

This will give you an idea of the average sale price and what you can expect to get for the property if you make the necessary repairs and upgrades.Property History: Look into the property's history, including any previous owners, liens, or legal issues.

It will create moisture and mildew and open you to issues including possible lawsuits....So my advice is - don't do anything until this is no longer an issue....

. $2,500-$2,700 in rent but have a $1,900 mortgage (including current property taxes) plus $100 for insurance, plus a 10% chance of no one renting and another 10% set aside for repairs.After all that I'm in a range of breaking even or making $200 a month with this as a rental.

Key factors to consider include choosing a safe and appealing location and assembling a strong team of professionals to navigate the complexities of the project.