Most of our tenants are reasonable folks, and the buildings in A and B level communities have mostly routine issues (leaky drains, roofs, etc). 

There seems to be issues with covering your expenses.Taking the sec121 exclusion, which is only for primary residences, is pretty much the best living tax exemption. 

Hi - I have a second / vacation home in upstate New York which had an issue and is under maintenance for almost two months.

That's still the issue I have with other markets like Washington.

With that, we became the American Association of Private Lenders—and we began spreading the word.Finally, Some DefinitionsUnderpinning the concept of minimizing the use of “hard money” in our industry is a recurring theme of standardization—that the root of the issue is too many interpretations of what the same terms mean.We offer up the following definitions for discussion, debate, fine-tuning, and eventual consensus [last updated 5/9/2022]:Private lender: Any non-depository individual or entity that primarily originates business-purpose loans secured by hard assets, generally real estate.Hard money lender: A subset of private lender where creditworthiness is determined solely by the securing real estate collateral.Correspondent lender: A subset of private lender where the closed loan is sold to investors.Portfolio lender: A subset of private lender where the closed loan remains in the lender’s portfolio.Fund manager: A subset of private lender where, depending on the fund structure, the deployed capital is sourced by offering exempted securities to accredited and occasionally non-accredited private investors.Private investor: An individual or entity that seeks a return by deploying capital through a private lender or fund; the investor may or may not be named on the loan’s promissory note.Private money broker: Any individual or entity that acts as an intermediary between a borrower and a private lender without directly originating the loan.

ALL of these issues can happen locally as well for sure, but if you learn locally the lessons are generally not as expensive. 

For years we were renting it long term and never really had an. issue with turnover.

I have remotely managed a property in DC for 10+ years without major issues. 

Having the money is the lease of issues .

But it does make me wonder if we will find any other major issues that I haven't been made aware of because the tenants have lived there for 8 years.