Thats old school thought process...the stuff they put in it now a days prevents it from settling.

Another point I made to him is that this place sold for $1.26 in early 2005 and $1.1 in 2003 and that was before the new kitchen and baths were put in.

Hi GuysI am trying to buy my first rental property.I put in offer about two weeks ago and now we are in same page on sales price after going back and forth several times.Here is the deal.

I'm new to this aswell but I think if you put in the work upfront you can avoid costly mistakes.

I know management companies put in size and weight limits per owner set rules.

If all of those are gas why put in an electric water heater which will cost more to heat and take much longer to heat?

Anyway, I had a horrible experience - horrible tenants who completely trashed the place in a year (so badly that I had to put new carpets in AGAIN, after they had been put in the year before) and didn't even have security deposits so the money they owed in back rent and on all the damage they caused.. is still owed to me today.

Yes, even the tenant I put in there didn't pay.

Jon stated pretty much what I was thinking but didn't put in my first comment.

There was a lot of deferred maintenance which ended up adding up to about 15% of what put in as a downpayment.