How do they pay rent, how do they report maintenance, and anything else you need them to know.

The cleaner will be you eyes and ears on the ground and the handy person will do what they do.Keep up on the maintenance of the systems and you should be good to go.

I have a set percentage I am taking our of rent for reserves: CAPX, Maintenance, Vacancy; etc..

@Ruel Salvador, your biggest risks, typically, are Capex and maintenance.  

To determine if the expense should be classified as a capital improvement or a deductible repair, the context of the expense is very important.An example is, if an item of expenditure is part of a general plan of modernization, renovation or rehabilitation to equipment or other business property, it typically must be capitalized even though on its own it would be currently deductible.According to IRS Code, expenses that you must capitalize are those that:Materially increase valueSubstantially prolong useful life (including replacement of deteriorating assets)Adapt the property to a new or different useHowever, you are allowed to deduct expenses and fees for routine maintenance and repairs that help keep the property in efficient operating condition.

Negotiations of the final purchase were based on comparable price/sf and cap rate for the area, as well as anticipated deferred maintenance that was estimated during the initial property visit.

High low income housing needs in area, low barrier to entry, low cost maintenance/renovations How did you find this deal and how did you negotiate it?

The doctor discusses your lifestyle with you and recommends some changes in your routine and your nutrition and suggests some supplements.

With lumber so high, I'm trying to learn about replacing with redwood, powder coated steel, composite, or aluminum and am looking for any advice on balancing upfront costs (quotes have been $35-50k) and ongoing maintenance.

Necessary expenses are those that are deemed appropriate, such as interest, taxes, advertising, maintenance, repairs, property management, utilities, and insurance.