Hi Jason,Just some random thoughts on this to bring your knowledge up a little.Everyone is different in how they do this--sometimes the lender will dictate certain amounts for certain things.Some people ride motorcycles without a helmet, some always wear seat belts.It also depends on how deep you pockets are, a Policeman owning the same SFH as a Brain Surgeon might want to have more set aside just in case.Some make a CAPEX, list for their guesstimates of CAPEX outlays based on the HUD guidelines in years of service life remaining for each item.But in (for instance) areas of high winds, things like roofing replacements and insurance reimbursements complicate this.You need to budget for turn cost, and wear and tear also, (re: wear and tear; carpet physically wears out over time, vs. renter spilling red paint on it--where you would charge that to the renters security deposit).The costs in the future will either come from the renter or come from YOU, vacancies, wear and tear, equipment failures, etc...The ones that will come from you, need to be budgeted for--unless you have deep pockets and the amounts seem frivolous to your expendable income and you believe you can just cover them easily.Some people can afford to buy their secretary a new car for her birthday, some have their families huddling around the table eating one can of cold beans for dinner--Ole' one can of beans might not be able to meet the financial needs of CAPEX when it comes due unless he sets it all aside ahead of time.Good Luck!

I got a call about a leak at 9PM on my birthday.

I would really like to have at least one apartment deal under my belt by my 24th birthday on may 30th.

(and Happy Birthday,in 3 weeks!) 

We would be looking to cash in on the group market  (bachelor, bachelorette, birthdays, girls/guys weekends) and curious what the general sentiment is in Nashville negihborhoods around Airbnb.  

Lender may require immediate payment in full of all sums secured by this Security Instrument if:(i) A Borrower dies and the Property is not the principal residence of at least one surviving Borrower; or (ii) All of a Borrower's title in the Property (or his or her beneficial interest in a trust owning all or part of the Property) is sold or otherwise transferred an no other Borrower retains (a) title to the Property in fee simple, (b) a leasehold under a lease for less than 99 years which is renewable or a lease having a remaining period of not less than 50 years beyond the date of the 100th birthday of the youngest Borrower, or (c) a life estate in the Property (or a beneficial interest in a trust with such an interest in the Property).

Originally posted by Brian Adamson: I don't want them to start expecting something every year, first it's christmas, then it's birthdays and then their asking for a few extra days to pay their rent and so on.

One who can remember their birthdays, but one who can also tell them it's time to move on if things aren't working.

My husband said they covered Christmas, My birthday and our Annivesrary 

I decided on my 30th birthday last October that I needed to get more serious about chasing financial independence and that's when I started really reading and learning about real estate as an option for chasing that dream.