I fixed the damage at my cost and reminded them that no further alterations are allowed (my mistake number 1 - should have charged them for it but this was right before COVID and they were already complaining about the high rent in their lease given other landlords were reducing rents to fill vacancies).

I fixed the damage at my cost and reminded them that no further alterations are allowed (my mistake number 1 - should have charged them for it but this was right before COVID and they were already complaining about the high rent in their lease given other landlords were reducing rents to fill vacancies).

@Kris H.So I may just have gone to the worst conclusion lol just a matter of getting the inspection to see I hope your guess is correct ☺️

I wasn’t aware of the septic rule in AZ(my mistake).

Part of me wants to keep that money in, since I've worked hard to grow it to where it is today and let that money stay as my emergency/worst case scenario money.

@Tom Matousek the numbers in NC will probably be better than what you'll see up here in 9.99 out of 10 cases, other considerations for investing in this area are the laws governing rentals (NJ is bad but NYC might be the worst in the country) Age of property (our buildings and homes are traditionally a lot older than yours which could equal more cost for you as the owner) cost of labor and materials (yup, were more expensive here too) Acquisition cost (which could easily be 4x what you'd pay for a comparable building in your neck of the woods. 

I replaced the property management (10%) w/ CapEx (10%) and ran it with the worst-case scenario that the seller will not budge on the $199,000 asking price and I need to replace three furnaces, roof etc.PURCHASE PRICE$199,000CLOSING COST $2,985CASH TO CLOSE$50,496LOAN AMOUNT$151,489REHAB$25,000 (Furnaces, Roof, Paint, Misc.)MONTHLY RENT$3,090EXPENSES:MORTGAGE$836INSURANCE$125PROP TAX$453CAP EX (10%)$309VACANCY (10%)$309REPAIRS (5%)$155MAINTENANCE$50TOTAL EXPENSE$2,237CASH FLOW / mo$854CASH ON CASH13.57%Is the Cash on Cash telling me I'm making 13% on my cash investment? 

Otherwise the worst-case scenario of paying $4/sq ft, then having to have one of the other floorings installed, is no bueno. 

I've made plumbing mistakes that ruined a bunch of drywall.

Painting ceilings is the worst type of painting in my opinion.It is the slowest because of the distance your roller has to travel from the ceiling to the tray on the floor each pass, you get paint drips not overspray dust on your face and your neck kills after about 30 minutes.