Repairs and Maintenance are not cheap and shipping carpet/furniture/etc to Hawaii calls for huge price premium so I would be sure keep a reserve for replacements.  

A good turnkey provider should handle leasing, renewals, evictions, repairs, maintenance, and rehabs for you.

Ensure you have an emergency fund for vacancies or repairs and verify market trends to confirm the investment supports your long-term financial plan.This post does not create a CPA-Client relationship.

In addition to doing regular inspections as soon as someone gives notice due and immediate inspection to determine if the unit is being kept up decent or if you need to plan on some repairs before it is turned.

The owners died, lots of heirs and no one wants to put up money for repairs, taxes etc when they only own a small %.

Purchase price: $55,000 Cash invested: $110,000 Sale price: $205,000 This was a 1950 raised home that needed extensive foundation repairs as well as all plumbing, electrical and subflooring.

Get the inspection but remember they are looking for hazards and not considering what repairs will do to the final value or monthly rent.

Opportunities like this don't come along often and can be the foundation for your future.You just need to know what repairs are going to come due and when, and start learning about how to be a landlord.

I grew up in the industry and still have a hard time with holding contractors accountable.thx Adam - We agreed from the start that we would pay the $500 a month as they sounded great in an interview , go to town council meetings on our behalf , and do some in house work like put up blinds  and minor repairs that is included in that fee.

The house went through a full inspection with some minor repairs costing $1500.