. $800 a month can be eaten up by a bad water heater, replacing an appliance, roof leak, etc.

Thank you all for the warm welcomes and the helpful tips.

Once you buy one, you'll probably buy more.Some suggestions:1) Us Quickbooks and set up Classes for each property and subclasses for each unit. 2) Scan EVERYTHING to either Google Drive or Dropbox. 3) Create a consistent folder-tree convention, example:   Main_123 (property address with street name first)   -General Property Info   --Insurance   --Property Taxes   --Title Docs   --LLC DOcs   --Purchase Docs   --Loan Docs-Utilities-Maintenance-Leases   --Folder (LastName_FirstInitial)-Advertising-Rental License-InspectionsAppliances & Mechanicals (pics, model tags, warranties, etc)4) Create list of consistent naming conventions for files so you don't have to open themExample: yyyy-mm-dd Main_123 Water Bill mm-dd to mm-dd $xx.xx               Lease Main_W_123_#unit (LastName_1stInitial) $RentAmount EXP yyyy-mm-dd5) Create a great lease by reviewing several from online, then have attorney review for compliance with state & local laws.

Mine has roof, floors, hvac, appliances, hot water heater, bath and kitchen remodel, exterior paint or siding, driveway, etc.

Gutters will help prevent more water from splashing up on the siding I am guessing.   

Left opening for louver doors so the HVAC and Hot water heater were accessible as well as sump pump. all three bathrooms tiled What was the outcome?

If there is a claim and it comes out that it does it meet their underwriting guidelines they may be able to deny coverage.even if they would cover a 3 family, the building coverage will be for a single family (1 kitchen, one furnace, one hot water heater, etc).  

Just did a phase 2 recently with drilling and water/soil sampling it ran $6k.

My tenant was hanging shelf and screwed into a water pipe.

Won’t this cause water to get trapped and cause the wood to mold and rot inside the concrete?