So I have an extra $40 a month in savings combined for taxes and insurance.When I posted this example I stated $400, but more accurate cash flow number is $480 plus the little extra saving on insurance and taxes I will be breaking almost even on the 50% rule.

The furnace is a huge investment and worth the extra maintenance costs.

Would that extra 5% cover the 10k in closing costs?

I'm not talking about destroying a whole bathroom that was meant to stay but more like not knowing exactly where to stop, thus you have to do a bunch of extra work to rebuild what shouldn't have been taken out in the first place!

Just use extra diligence when screening potential tenants and maybe do additional property checks during their lease term.I've got a few rentals that were semi custom specs I couldn't sell when the world fell apart and so far they've remained in excellent condition.

You can click on the "vote" button if you like someone's post or is helpful, and there are "awards" to earn on your profile.

If you can get her comfortable with investing the extra money go for it by all means.

You can click on the "vote" button if you like someone'spost or is helpful, and there are "awards" to earn on your profile.

I went to this seminar a few months ago on Long Island.They are selling a $2500 package which promises a weekend seminar and coaching, with all the extras like finding lenders, etc.

And it's not just the letter of the law, it's the court's interpretation, and how many extra chances they give the tenant in an eviction proceeding, etc.