It's pennies compared to the 11 PM phone call that a toilet exploded and you need to not only get someone down there to fix it ASAP, but you need to figure out what happened and get the tenant to pay for the damages. 

The coins (or credit cards these days) your tenants drop into the slots should more than compensate for their costs.

Fast forward 3 years... we’ve both built our credit, bought our primary residence, have two kids with a third on the way, solid middle class jobs, and some consumer debt.We were gung-ho to get going in 2019 after bonus and tax time to get a rental property finally.

With my investments, everything is geared towards short-term stays, and I don't worry about things getting damaged because it's all meant to be replaceable.  

They can make great pets but they can also tear off faces and do a lot of damage to rentals.

Hi,I am in the process of deciding a tenant whose credit score is 556.

I have excellent credit, steady income and plenty of cash reserves. 

I have funds and also available credit to front the rehab costs.

My credit score is great (770), I have enough for another down payment (20%) but lenders still can’t lend because I have around 230k in debt from the other home.

This gives you time to plan your next move, improve your credit, build up a down payment, and Next, the FHA mortgage can be used on property when you agree to owner occupy; if you want to use as investment, then find a plex unit and occupy one unit.  1 to 4 units are still considered residential, while 5 units and up require commercial lending.All the best~