When evaluating rental properties, aside from school districts and convenience, consider factors like neighborhood amenities (parks, restaurants, shopping), rental demand, job market trends, property condition, potential for appreciation, and rental income compared to expenses (including taxes, insurance, and maintenance).

Evaluate operating expenses, including property taxes, insurance, utilities, maintenance, property management fees, vacancies, and capital expenditures (CapEx), to ensure accurate estimates.

Pricing - most bookkeepers I know are transitioning to flat rate pricing that includes software costs, based on the complication/volume of your business(es).

I had 1 contractor come by today and quoted me a French drain system, as well as raising the basement floor up 6 inches, with 3 sump pump's for a price tag of $16K, not including the repairs to the walls. 

.• Expenses: Estimate operating expenses including property taxes, insurance, utilities, maintenance, vacancies, and property management fees.• Financing: Explore options like FHA loans, conventional loans, or portfolio loans.• Cash Flow Analysis: Use a tool or spreadsheet to calculate projected cash flow.Based on your estimate of $300 per month in cash flow, make sure to verify that this aligns with your financial goals and risk tolerance.

Another appealing aspect of this property is that it includes a house currently occupied by an older couple.One major issue is that the house and the neighboring property share a well.

The team you put together can make or break your investment.

Did the tenant cause the water leak by breaking something?

Depends on a lot of factors including:- Was the property under-rented or at market?

I am still managing it but getting break-even, still good for me.