Nothing for vacancy, long term capital (even if its rehabbed, if you plan to hold for 20 years you'll buy roofs, furnaces, ACs and other pricey items), routine maintenance, make ready costs between tenants (some, but not all, may be covered by security deposits), legal expenses, lengthy evictions, accounting expenses, etc.Now there will be some months, most months even, when you only expenses are the PM, taxes and insurance.

This has been my business for over two decades and I routinely lend to fiduciaries, private and public, personal and commercial, without the need to vest title individually or sign co-guarantor agreements.

Am a bit uncomfortable with the language I'm reading in various contracts.

Even though my house is in one of the very good neighborhood with tons of professionals around, somehow almost every applicant I got has issues that I am uncomfortable with.

So that uncomfortable risk 'padding' comes in at 2% to 10%.

I'm a bit uncomfortable with your plan.

I have a few questions.What are your thoughts on this routine?

I like a to have a routine such as knowing rent checks will arrive monthly etc.

If things are noticed during a routine repair or other visit to the property by the PM, the owner should certainly be made aware and given the option of repair.

Maybe we could do a 12-7 routine.