There's no right or wrong in budgeting  or giving. 

source_impr...Depending on your goals (using it for you and your family a few times a year and hoping it pays for itself, parking some cash for a few years and hoping for appreciation or strictly cash flow) will determine what size home and what your budget should be.

When I first started my monthly budget was $500-1000 a month, closed 8 deals my first year.

A couple of thoughts specific to condo investing:1) Be sure to include the condo fees into your cashflow analysis, and budget for potential assessments as projected capital expenses2) Make sure the condo association is solvent - a good litmus test is whether or not the units are approved for FHA financing3) Make sure the condo association rules/regs allow for rentalsGood luck!

Regular preventative maintenance, typically during turnovers between tenants I take note, anything that will likely be a need to repair in the next 12mo I try to fix during my turnovers before a new tenant, but I also take note of anything that may be needed in the next 24mo and the next 5years and I estimate the cost and budget it into my reserves Best of luck with your self management journey!

Your budget should deal with preventative or regular maintenance and emergency repairs.

I can’t afford to pay him for a lousy job and stay on budget. 

We have seen a few properties that are within our budget, but would obviously do some more thorough analysis on the properties before pulling the trigger.On the other hand, we have been more interested in STR's since we planned to start investing in real estate.

Eliminate debt, establish a budget, and save.

Budget at or under 400K.