For tax write off it is beneficial to repair versus replace.So depending on how much rent you would lose you would have to weigh repair versus putting new in.I totally understand if a part is 50 bucks you do not want to spend 600 or more for a new one.Especially if it is not that old.I gave 100 rent credit to a tenant when the A/C was out for a few days.The outside fan motor needed replacement so rather than the A/C guy saying I need a new one at 2 grand we bought the fan motor at a supply house for 60 and fixed it.So 2,000 versus 160 I will take the repair all day long.Especially if you have a property you are planning on selling for development down the road you don't want to drop all new stuff in.Sure a developer will let me strip it out and cash out the parts before they take it down but I want to keep my replacements to as little as possible and only repair.If you do too much the tenant will keep pushing the envelope.If I was in your shoes I would definitely give a credit to the tenant.After you get the part fixed and the credit you are still probably ahead versus replacement in cash outlay.Another consideration is if the water heater goes out on the weekend you might be better giving the credit versus paying for an emergency call and getting hit up with double the fees for everything.

I would consider 100 little to no money but not a grand that a bit much for me.

Doesn't make sense to me, but then I'm not everybody.I can see maybe taking a bath on a few grand to "walk away" from a house, credit intact, but $10,000?

Actually, a hotel next door, damaged by Wilma, was torn down and SIX new 18 story buildings were built. 4 Are Bay View Grand and 2 are Porto Fino.

My dealings are in Rio Grande Valley for the most part.

Any place pulling a grand plus in rent to me seems it should look pretty decent, even if it's out dated the material and trim should fit well, carpet stretched and areas around stairs should fit well.

If it's a really great deal then I would hope some of those savings to be passed along, for example if a wholesaler has a contract for $40k and the wholesale value is $70k, then I would hope to get it for a few grand under $70k as an act of good will........or at least buy me lunch.However, if I find a wholesaler is getting a killer deal and they're trying to squeeze every last nickel by overpricing the sale, overestimating ARV, or underestimating the repairs then I'm going to be quite upset.

Some will respond now and others in a few months.Being consistent is the key to success.It is much better to send 100 letters once a month for a year then to send 1,200 letters all at once and run out of money.If you send the wrong message to 1,200 people even if they are targeted you will get low to zero response.If you start small and experiment you will find the sweet spot that generates the best result over time.The goal is to constantly tweak your control to improve response.First start out with a small mailer such as 50 or 100 and then start tracking.After you have the increased response to a fantastic level then you go bigger and scale it up.Usually 1 to 2% is average,5% is really good,10% and you are hitting a grand slam.This process I am mentioning has been tested thousands of times to be most effective in successful mailings.

A grand kid had killed his grandmother and shoved her in the gravity fed furnace (REALLY BIG Furnace).

Unfortunately, that's only a few grand per year and is subject to income limitations.You might look into a Solo 401K and see if you could set up a company that owns rentals and using the income to fund the 401K.