For most of my houses, the tenants pay the water and electricity. 

And then after getting a property, I assume a lot of YouTube university and the like.For example, learning drywall, painting, flooring, tiling, some plumbing and electrical (nothing crazy), some landscaping/hardscaping, etc.Help!

On electrical, make sure that it is in good shape and nothing is overly corroded or in need of replacement.

You can choose to ignore the costs for 20 years, but from an accounting perspective, it (pretty much) all works out the same as figuring $1000/year.And that doesn't even include things like siding repairs/replacement, major plumbing upgrades, major electrical upgrades, etc.

I'm sure we'll face challenges ahead, but enthusiasm and energy can make up for a host of our shortcomings.Glad to have you here in the community!

Purchase price: $825,000 Cash invested: $325,000 Sale price: $1,424,000 These sun-drenched units feature spacious 3/4 bedrooms, new bathrooms, and updated plumbing and electrical.

It is never worth the time or energy when the buyer starts that low.Now I have, as a buyer, made low offers, but only when I knew that the property had fallen out of escrow several times because of a bad foundation (for instance).

A new roof, all new plumbing & electrical, H20, heating & Central A/C, full insulation & in-unit laundry

But basics like rent, food, transport, energy, etc. will have to increase in price.

I record it as a holding cost in the same capacity as I do utilities (gas, electric, water).