Here's a specific list of expenses:Expenses per month:Rent $2,375Internet $30Short term rental insurance: $50 (Covers any liability, damage or lost income because of natural disasters)Toiletries & refill supplies: $20Repairs & maintenance: $20All other utilities covered by landlordFurnishings and start up costs: Almost all furnishings were already in said property when we took over the lease.

Depending on how much structural damage there is, you might be better off handling repairs with your own contractor(s) or staff.

Aloha,Typically yes, water intrusion during heavy rains can be a code violation, or create violations, depending on how and where the water is entering, and what damage results.

Purchase price: $30,000 Sale price: $53,000 Lead came in out of state investor looking to sell we contracted this house for $30,000 it was lightly fire damaged What made you interested in investing in this type of deal?

Also ask about the move-out condition of the property (if one that isn't where they currently live), and whether there was anything owed at move-out and what damage occurred.With smaller operations, I try to get a conversation going, where lots might be told without even asking.

Circle of influence.

Normally death, divorce, fire, water damage, buying selling homes, etc.  

I like to avoid evictions for the sake of damage to the property, time it takes to evict, and cost of eviction.

Placement and maintenance of gutters and downspouts can often be the greatest influence on issues like this.

-It is 40 yrs old-Aluminum wiring-No central air/no heat-Evidence of water damage around most windows, and kitchen flooring-I don't remember there being a hot water heater-Last owners replaced some windows and did a shoddy job-No car port/no storage shed-The cabinets in the kitchen appear to be home made with plywood and white paint-Soft wallsBUT mostly.. it's a 2/1 and they just don't move like the 3 bedrooms.As far as why did I settle for only 4k?