I’m expecting to receive an inspection report later tonight but based on my conversation with the inspector there are a few concerns including water leaks in a couple of the units.In the purchase agreement, one of the sellers terms was that the property “ is sold as is, and as disclosure condition.

He was able to successfully snake the main drain going into the alley while I shop vacced up the water the best I could (had to empty my vacuum 7-8 times).I borrowed a huge fan from a friend and rented a carpet drying fan from Home Depot.

If the property was renovated top-to-bottom four years ago, you would be safe with a small reserve whereas an old home may need a new roof and boiler and water heater and windows in the next 5 years.Personally, I have 22 units and keep around $15,000 in cash.

The online training doesn’t actually teach you how to be successful in real estate-it teaches you how to avoid getting in hot water with the regulators.

Pass on Water and Sewer onto the tenants to minimize your costs. 

I learned soo many things on how the whole process goes from permits contractors watching budget scheduling and even water main taps and sewer issues.

Is it really water resistant for a bathroom or a kitchen?

If this is your first park  I would also try very hard to have city water and sewer.

Some have HOA common water service, built into HOA dues. 

Heat and hot water included.tenant only pays electric.