And then there are still the unpredictable expenses for maintenance and repairs that still have to somehow be paid.

Pay a contractor to go by with you to help figure costs of repairs.

We owe $98k on that & it's worth about $45k (rented out past 3 years & renewed 4th year last week).For the condo, between tenants, I spent $3200 with repairs/maintenance, cosmetic/needed upgrades, etc.I don't have them in an LLC.

Soffitts, fascia, and gutters need to be converted to vinyl and aluminum with rot repair on structure.Plumbing and electrical have not been completely trashed.

After including property taxes, insurance, property management, repairs, and including 2 months of vacancy per year (just to be safe), the BEST deals I've seen would only net me a 5% annual return on my investment.

(Clearing the tree, repairing the roof, or replacing flooring after the hose let go)If the answer is yes, you are strapped enough to submit a claim for that, then yes, get a policy with a lower deductible.

I own a 5 unit plus a commercial on the same block & lot.I am behind on my payments Only 2 units are rented and the building is in need of some major masonry repairs & interior work.

Since it is an OO, I suggest you do the minimum repairs to get in it.

It all depends what you think a good profit is, but generally, you should be looking for 65% of the After Repair Value (ARV), minus the rehab costs.

Only a small account for basic misc. expenses, small repairs, bigger things approved by or handled by yourself or management company3.