I believe in having a second gun as a backup in case the first breaks, is lost, runs out of ammo, etc....

In a situation where you were into this deal for 70% of the $230K, hoping for a profit of 25-40K, and the real selling price was only $176K, you would have lost $14K, maybe more.

Our mentallity was if they accept our offer then it would be worth it for us to do the deal, and if they did not accept our offer well then we should not be trying to do a deal in this area anyways- nothing gained, nothing lost.

Then I am completely lost on how I go about evaluating repairs.

So that's 8 years to break even, but your now 8 years in the hole, so another 8 years of $100/yr increases to get back the money lost over the first 8 years.

Now you just lost 2 and half years income over an appliance failing .what if the roof needs replaced ..

A potential buyer's due diligence on that front lost us a contract and ultimately set our close date back a month.

That said, it does not yet sync with my bank, so I maintain separate accounting in Quicken, which serves as the basis for our tax reporting and for balancing our checkbook, so I’m spending extra time (that I don’t have) maintaining much of the same info in two databases.For lost rent due to vacancy and non-payment, we assumed that we’d have the equivalent of 1 unit continuously empty, and despite all the renovations, we only slightly exceeded that over the first year.

I lost on two properties, but got one SFH for $10k or just over $11k after transfer taxes. 

I have just recently lost my job as a Health Insurance Counselor so I figured I would enroll in a pre-license salesperson course and begin working towards getting my license.