One tip is to start looking into meetups to connect with investors / others in the REI game (in person/online).

For a rule of thumb, replacing a commercial boiler can range anywhere from $20k to $150k, depending on the size, age, and efficiency.

@Jason Dubon I take the cost of all appliances and divide it by 5 (avg lifetime of appliances these days) to estimate annual cost of appliance replacements.

But it gives you a chance to get a fresh start....make your place nicer, replace appliances, new paint, get rid of carpet and replace with LVP, Etc....

Thank you for the tips!

I have yet to complete a walk-through of the property and see what renovations may be needed (potential for HVAC and interior, but from my understanding the roof and windows were replaced within the last 7-8 years).

Any tips are welcome.

I have now replaced my old corporate job income and expect to make over $70k cashflow off of my 31 unit portfolio while also having the time I want to be able to enjoy sailing, camping, hiking, and hunting.

Best tips are take it slow and make sure you have significant reserves when you leave your w2 also don't buy a company car if you already have a car just to say it's for work.

AI tip 2: a friend of mine wrote an app (beta) for landlords to market themselves on a regular basis by soliciting reviews from tenants.