In a perfect world this would work out but you know the minute the tenant has a grievance/gripe and wants you to buy something or repair something that’s unreasonable In cost there is going to be strain and resentment.

Work is pretty basic, mostly wall repair and paint, some hardwood refinishing, installation of new toilet, and vanity, refinishing of a tub and removal of vines from the stucco on the outside of the home.

Percentages vary depending on your strategy but here is generally how I use my excess cash from this portfolio: Say you have extra 1,000 bucks after paying your monthly expenses and putting aside money for reserves: I split it out in the following manner. 1) Additional rainy day fund for CAPEX and repairs. 10% 2) Additional Acquisitions budget 50% 3) Additional Debt paydown 25% 4) Stocks / Bonds/ Pay myself. 15% I definitely prescribe to the pay myself first , and have a more conservative approach when dealing with debt .

Knowing where to start, with a good realtor, is great for when I start picking up the phone.

The asking price was/is 120k and probably needs north of 40k in repairs.

What are the repair costs?

If there is a big emergency repairs or something that has happen that would also have an impact on your cash flow.

Legally the operating LLC is acting as the owners agent by making decisions on leasing, maintenance, repairs, etc.

Most houses that old are going to need repairs.

ReHab - $4000 Needed nothing serious but a window was smashed, needed some flooring fixed, wall repaired, a significant amount of cleaning.