I buy a house every winter and work on it nights and weekends when my schedule allows.

That should get you a profit of 15% of the ARV, more likely 10% as you go over budget, over schedule, and sell for less.Jon

That stuff works great on ant piles too. The

Then, unbeknownst to me, on the very day we were scheduled to close, the sheriff's held the auction.

I have a very busy schedule so I cannot do this on a large scale.I have never had the privilege of finding a mentor so I have muddled through on my own.

It could be both the city and the neighbors with fight you tooth and toenail.

Assume expense (including capital items and vacancies) are 50% of gross scheduled rents.

They don't like it, and you will get a call every 3 months telling you that you are under-insured and want to schedule a "review", but LM is certainly a reputable company.

You should, at least once, that would be every 6 months.Repairs or improvements may not be made by a residential tenant that would be required to be depreciated, doing so leads to false tax deduction and depreciation schedules under the tax code, those tenants can not claim such expenses, if you do it's really fraud if you didn't pay for it.My rule is that if anything has to be opened up, unscrewed, disassembled or disconnected to repair it, it's my thing, not a tenant.

But it can absolutely be done if you really want to make it happen.There are, of course, several other strategies that you can pursue that might fit your schedule a bit better.