That's 8.3% of annual rent.I agree that $/sqft isn't how rentals are properly priced.

Again, simply using the example above, it is easy to understand how excluding $10k of income can change your debt to income ratio which might cause a loan denial.If I had a dime for every 1003 I reviewed from the LO's that use to work for me who failed to properly identify property, which then usually means it defaulted to SFR, I would have a lot of dimes.

I really like that you're taking the time to assemble a proper team.

A key component of financial independence is proper stewardship of your resources.

I would have to speak with the contractor (check references and license) who will be doing the install to ensure that it will be installed properly as well as check into local laws regarding the upgrade, does it automatically become part of the property or when the tenant leaves will they want to remove the granite countertops because they paid for it.

What do you do to keep yourself focused, motivated and productive, while in a holding pattern?

You don't know if the letter get read or even get to the proper party.

In LA you have to screen the heck out of your tenants, but the good news is that the demand is astronomical for well located product and people can't afford to buy so the tenant pool is generally much better than in lower cost markets.Like I said, I am ready to diversify though.

So I just got back from a VERY productive meeting with an out-of-town landlord who's tenants just moved out.

If you paint over it and someone ends up having respiratory problems, and then finds out there was mold in the house and you didn't investigate it and treat it properly, you can be sued.