As Rich said, most issues with repairs/improvements/maintenance should be addressed in your lease.

Current Gross OI is 47,040 annually ($490/month/unit).

My tenants almost always communicate any maintenance issues via email.

Lastly, owning vacant land is low cost, low maintenance, simple, and low risk.

It does need some up front maintenance, primarily the roof which I would do initially but any interior maintenance would be performed as their lease expires.

They normally get 7-12% of your rent but its well worth it if they handle collecting rent, leasing out, tenant issues, advertising, general maintenance, repairs and improvements.

At the least, you pay for their raise annually.

Economists are predicting a 4% ANNUAL increase in rents-which will be the highest annual increase since bubble burst.

I've bought shorts vacant, tenant occupied and owner occupied.It can be hard in my area too...I wonder if the townhouse has monthly fees that could cut into the cash flow, and to what extent those fees cover maintenance of the exterior...On the plus side, since it's an end unit, maybe it would be easier to rent?

Our annual premium is about $380.We also carry $1 million in liability under our homeowners insurance policy for all of our rentals.