I think he trues up the costs at any of the following: annually, tenant exit, tenant requested.For our units we simply notify the perspective tenants at move-in what percentage of the water they will be paying. 

As we know, newbies ask questions to learn about STR here and to hear different perspectives.

But a perspective to also look at is you need as many landlords and or flippers as possible. why?

Let me know how it goes with your case, really want to get some perspective on what to expect.

From the tenant's perspective, it probably seems ridiculous to provide one after 12 years of lease payments.

Hey Rachel, I'm not an agent but I can help in one of two ways:a) Give you some advice from the perspective of someone who owns 10 properties in Detroit and lives here locally.b) Connect you with an agent or two that I respect.Some quick advice: You do NOT want a house for $20,000 with at tenant in it.

But you shift the bulk of your cash into the non-taxable event of a refi away from the taxable event of proceeds from a sale.

-A little more management from a cleaning/ turnover perspective.

There are properties that work well on a spreadsheet, but from a management perspective do not make sense.

I guess look at the deal from the investor's perspective and ask what the target return should be.