Their philosophy for renting to college students was as follows:Sign a lease with a depositInspect every monthAll repairs (no matter what the reason) were the students/tenants fault/obligation (written in lease).

I will front the cash, and he will do the repairs, and then rent or sell the property.

With that said I have adjusted my purchasing requirement to 40% LTV (after repairs) and 2.25% rents.

I asked If he would take 85K in 1 year. within the next year I would pay him $100 a month to take care of property taxes, I would install new floors, repair drywall, paint in and out, new appliances and light fixtures throughout, new windows and build a custom deck, all at my expense.

We're putting in anywhere from 25k-50k in repairs for most of the houses we buy and sell.

$ that would be used for repairs, to cover late rents, etc...?

On the other hand she's done ALL of our appliance repairs in the 25 years we've been married!

He found for me about 1/2 a second later.I would have liked to bought more Houston property as the market started to turn around in the late 80s and early 90s but was constrained by my wife, my natural (financial) conservatism and the fact that I was holding down a pretty good paying job that sometimes cut into my maintenance, repair and make ready time.I have always done (almost all) of my own work, that includes reroofing, pulling about 35-40 feet of termite eaten studs out and replacing them.

Inspect the property to make sure none of the tenants are operating a business, daycare, beauty shop, auto repair, MARIJUANA GROWING or others.Make sure that you are credited at closing for the amount of ALL SECURITY DEPOSITS.

Men also like low maintenance houses so they aren’t constantly being asked to fix or repair things.