I had 11 of these and good systems in place but still had 1-2 evictions a year and 3-4 big things that were normal annoyances like plumbing leaks, damages from hurricanes, or some vandalism.

Now that doesn't mean you won't be able to buy a normal duplex with 3.5% down that doesn't need any rehab.  

For example, a normal Hard Money Lender (HML) will lend us 70%-75% of a property's After Repair Value (ARV).  

The adjuster will differentiate between normal wear and tear and damage. 

Would you want your family to live on a busy street with the threat of getting hit by a car?

I try to keep 6 months per property worth since that's normally what banks want.

I should have asked why, but got an umbrella policy anyways for my personal house, cars, and this investment property.

Hi @Carly DuCharme! 

To your point, that is all lost income and not to mention you need to pay for any inspection past the 1st one (no clue how much section 8 inspections cost opposed to a normal inspection).

He clearly doesn't get investing or that refinancing after renovation is just a normal thing for many people.There is a reason that Fannie Mae allows up to 10 financed properties per borrower.Stephanie