Now the hot water heater and HVAC are down there and the renter has a storm shelter they can get into just in case a tornado comes.

That treatment makes it less porous but not sealed from water damage.

Ground water takes the contaminants into neighboring properties.

The way those vehicles are parked, and the constant coming and going of people may catch the attention of your HOA or a nosey neighbor and that can land you in some hot water.

I had one recently that I couldn't clear with a snake, chemicals & water pressure etc.

Monthly Income: $2,200.00Monthly Expenses: $1,815.61Monthly Cash Flow: $384.39NOI: $12,238.00 Total Cash Needed: $51,500.00Cash on Cash ROI: 8.96% Property InformationPurchase Price: $167,500.00Purchase Closing Costs: $7,000.00Estimated Repair Costs: $11,000.00Total Cost of Project: $185,500.00After Repair Value $200,000.00Down Payment: $33,500.00Loan Amount: $134,000.00Loan Points: $0.00Loan Fees:Amortized Over: 25 yearsLoan Interest Rate: 3.000%Monthly P&I: $635.44Vacancy $66.00 (3%) Repairs $110.00 (5%)CapEx $176.00 (8%) Electricity $100.00 (5%)Water & Sewer $100.00 (5%) Insurance $120.00 (5%)Management $154.00 (7%) P&I $635.44 (29%)Property Taxes $204.17 (9%) HWT Rental $25.00 (1%)Heating $125.00 (6%)Total $1,815.61 (83%)Debt Coverage Ratio: 1.60Appreciate your feed backs!

A few recommendations to add to this thread: - Oil based primer goes on far better than water based primer and covers the previous paint and bare wood more effectively (just make sure to use a separate brush from your water base one and clean it out with paint thinner) - You can apply a water based paint upon oil based primer once it dries without a problem.

Pollution to the ground water could impact neighbor's wells.

Still just testing the waters.

Do the tenants pay water, trash, electricity, and gas?