This will cover items provided and owned by you the landlord (i.e. window A/C, Fridge, things that you will need to replace after a loss.

I can’t believe how many investors are so focused on buying and not how to KEEP THEIR PROPERTIES or KEEP TRACK OF THEIR PROFIT AND LOSS.

I would agree that the carpet in the apartment w/ door jamb damage is not something to worry about, and yes vinyl plank tile is going in all units as they empty.As far as tenant loss goes, one was evicted for never paying once I took over.

We literally had code enforcement write up everything on the property, as well as code enforcement and a bad eviction so we had to visit the property a lot and have tons of losses and expenses.We only had about $6,000 in rental income, about $6k in repairs and $15,000 in capital improvements...  

Hi All, I'm hoping to get a second (third, fourth, fifth, etc.) opinion on this property: Purchase Price: $97,000Evaluation: $98,000PITI: $713.13Estimated Rent ( Very Conservative): $1,050Estimated Rent (Probable): $1,100 - $1,150, possibly $1,200Vacancy Loss: 5%Repairs/Maintenance: $53/monthUtilities: $82/monthMonthly Cashflow: $197.95This is a pretty turnkey property, although the furnace and water heater are on the older end. 

Do you currently have passive losses that are being suspended?

Because of some losses on 2 flips in Phoenix, I was supposed to be getting a 12k return.  

Taking a 40%+ loss out of the starting gate is not what most investors would recommend.

I’m a professional bookkeeper and I have a question for those of you that use something other than QuickBooks....What’s your Profit & Loss YTD for each property?

Maybe you can sue for actual losses plus attorney fees.