No matter what happens, if you are diligent, buy a good deal (i.e. 20+% below market value), and have enough emergency funds to weather an emergency, real estate will make you wealthy.

However, that would minimize liquidity were there to be an emergency where that cash was needed in a more immediate sense.

I just have my own quirks - due to prior bad experiences - so, such a small amendment/stipulation should not be a big deal for their “lawyer.”)Other than that, I expect the oncoming PM to get in touch with the outgoing one - once they’ve been told by me that I am letting them go - to make sure that nothing falls through any gaps during the transition, including advising the tenants about whom to call in an emergency after a specific date.

I see the CARES Act provision as an emergency lifeline type of thing, that's not the kind of clock I want to be on.

Internal Revenue Service, or (iii) received an Economic Impact Payment (stimulus check) pursuant to Section 2201 of the CARES Act;3) the individual is unable to pay the full rent or make a full housing payment due to substantial loss of household income, loss of compensable hours of work or wages, a lay-off, or extraordinary out-of-pocket medical expenses;4) the individual is using best efforts to make timely partial payments that are as close to the full payment as the individual’s circumstances may permit, taking into account other nondiscretionary expenses; and5) eviction would likely render the individual homeless—or force the individual to move into and live in close quarters in a new congregate or shared living setting—because the individual has no other available housing options.

Internal Revenue Service, or (iii) received an Economic Impact Payment (stimulus check) pursuant to Section 2201 of the CARES Act;3) the individual is unable to pay the full rent or make a full housing payment due to substantial loss of household income, loss of compensable hours of work or wages, a lay-off, or extraordinary out-of-pocket medical expenses;4) the individual is using best efforts to make timely partial payments that are as close to the full payment as the individual’s circumstances may permit, taking into account other nondiscretionary expenses; and5) eviction would likely render the individual homeless—or force the individual to move into and live in close quarters in a new congregate or shared living setting—because the individual has no other available housing options.

If you needed surgery, you would not start medical school.

@Nancy Stark I'm not a lawyer and this isn't legal advice, but the eviction moratorium is only for non-payment of rent, and the tenant has to prove they were unable to pay due to substantial loss of household income, loss of compensable hours of work or wages, a lay-off, or extraordinary out-of-pocket medical expenses.

This type of service with a power scrub and scope is usually $350-400, but emergency, after-hour rates are double.

Therefore, when an emergency happens with the property, such as a broken waterheater/newroof, the net cash flow that was generated is essentially washed out.