We all (should) budget for CapEx/Maint. and because we are savvy, we've talked to other landlords and found out what they are spending on repairs and maintenance, so not worried about clogged toilets, broken fixtures, etc.

My internal checklist has me combing the exterior for roof/gutter/siding damage, check the garage, inside check all flooring/ceilings/walls, how the house is heated, age of furnace/HWH, age/wear of appliances/showers/toilets, basement check for cracking walls/signs of water, attic - mold.What's this rookie missing?

Be rid of the toilets, trash, liability and management headaches.5) Liquidity and Diversification: Diversify your capital into multiple real estate markets, REITS, stocks, bonds, multiple funds.

Tenants had a clogged toilet.  

Plumber installs a new toilet but failed to snake the drain with his equipment.  

For example, Euclid, Single Family, $70-90K.I had an agent, lender and some property that I made an offer but didn’t pan out due to issues found in the house, then i stopped due to pandemic and also rethinking my strategy.

This is a way to own real estate without the head aches of leaky toilets or middle of the night calls from tenants.

No on the wall toilet paper holders.

My uncle had one in the bathroom at his house when I was a kid - thought it was an awesome way of getting out of putting the toilet seat down nonsense!

Reach out to the one you pan on using for your investing here in Michigan.