$550,000 worth of unexpected medical bills plays havok with your credit score and it takes 4-5 times as long to build it back up as it does to take it down. 

It's also important to factor in the potential for unexpected repairs or vacancies, which can eat into your profits.Financing: Since you're a college student, you may not have a long credit history or steady income, which can make it more challenging to get financing.

You'll be surprised how quickly linens wear out and how some disappear unexpectedly. 

We do have a hand held Bissel that people have used in case of accidents.

It is the unexpected or unplanned for events that are likely to cause problems.

Just make sure you have enough cash reserves for maintenance and unexpected items to pop up.

As some readers of this Forum know, there are two types of participation for those seeking the use of real estate losses:  Active Participation and Material Participation.  For REI over a certain income limit, in orde...

On a $80k property with even 5% rent to purchase price ratio, your gross annual profits aren’t that great in total and can be wiped out with one unexpected event like a furnace or sewer line or an eviction/vacancy or even something as basic as a water heater clapping out and leaking everywhere (there are a boatload of uncontrollable variables when dealing with low end rentals), so 5% on paper often ends up being 0% or worse and you’re just suffering the brain damage of managing a low end rental for nada.

Expecting tenants to keep drains clear is very reasonable and accidents happen for sure but there's not reason for the landlord to foot the bill for this IMO.

., renter burns house down, renter severely injured or dies on the property from accident, etc.)So we aren't sure if the homeowners policy would cover situations like that since they are related to short-term renters or if we can get STR insurance on a property we don't own.