I have my utility lines covered on a policy written by Philadelphia Contributionship.I have a couple houses that I've been too lazy to switch still with Nationwide (I think) and they DO NOT provide it.

If it is near the city, meaning more of a rural area, turnover will cost more than what’s covered by a 10% vacancy projection, just because of the lower demand and smaller pool of potential applicants.This is a very unattractive “deal.”

Your friend has about $7k per year cost of maintaining her property - if we ignore utilities (unless they are included in the condo fee, which sounds too low to cover all utilities) and maintenance. $280k divided by $7k is 40 years.

Lucas started down this road, but I think the most important part here is to very rigorously vet the would-be tenant and get enough written assurances that you are covered if this doesn't go well. 

Alternately you could send them all a notice explaining the situation and indicating that if there is another fine that you are simply increasing all rents to cover the potential costs. 

You need to plan for vacancies and figure out who would cover repairs.

Due to postponed closing due to financing he also wanted 1/2 the cost covered by my.

I receive either a covered hotel room or a housing Stipend, $100/day.I'm opting to choose the stipend bc rent averages $1500/month here, which means I can pocket $1500/month.

@Swati V PatelIf the 401(k) owns the property, all all expenses will need to be covered using 401(k) funds.Whether to invest in multiple units or just one unit at a time comes down to how much funds you have to work with and whether or not you want to start out slowly.

I’ve done that once, an x-tenant sued for deposit, we counter sued for property damages, she dropped her case and signed a hold harmless to avoid us collecting on her for damages not covered by the deposit.