Hey, so I just got a deed on a tax lien and somebody burned the property down before I was able to get insurance on it in Phenix City, AL…what can I do about that?

I have a long term tenant who I inherited when I purchased the property he has always called us whenever there was an issue (A/C not working, Broken window, toilet not working etc) Well last night around 8:30 pm we received a call from him that he called a plumber to remove roots from the sewer line and wants us to pay the bill. 

I'm currently saving up for a decent down payment on a property and have $12,000 saved so far.

Makes your property more accessible (at least on the surface).Bad: Has a cost which is not used most of the time.

Good afternoon Team,I only have one multifamily property, and do not have a property manager at this time.

My main concern is regarding cost-basis and future capital gains tax when I ultimately sale the property. 

Then verify your findings by contacting property managers, talking to other investors in your area, etc.

[The property manager we work with has a $250 start-up fee, 8% of the collected rent, and a $300 tenant placement fee.

The real key is finding a good property manager first.

If anyone currently MTRs in this area, I am curious on how you got started, how you run your operations, and how you furnished your property(own/rent) and what the cost breakdown might be for me to do the same!