We will soon be closing on a property in Marion, Kansas and we will need a good, professional, reasonably priced bonded and insured electrician for several tasks needed for compliance and upgrades.

Without taxes and insurance the mortgage payment is just under $900. 

This is one of the only deals I've seen where cashflow isn't negative. 1968 triplex with 3 car garage on the market for 71 days.Purchase price: $289,900Estimated cost of repairs:  $5000ARV: $335,000 (this is best guess with what comps I was able to dig up)Closing costs: $2500Down pmt: 25% ($72,475)Loan amt: $217,425 amortized over 39 years @ 5% interestUtilities are paid by tenants so I would only have to worry about trash ($84/mo), insurance ($167/mo).Maintanance and repairs: $132.10CapEx: $264.20Vacancy: $132.10Property taxes: $279.67Rental income: $2642.00Cash flow: $415.75Cash on cash ROI: $6.24%I have not walked the property so I can't be certain what the HVAC or roof look like.  

Life direction-ADD I guess.

Like Account Closed says, happy wife, happy life!

Kyle,Property Insurance generally is written on an "occurrence basis" meaning that the policy in force at the time of loss is the one that pays. 

two questions...1st is I do a general improvement to a building as I read the tax code the improvement should be amortized over 28.5 years .However we did an improvement to just one unit with excepted life of 10 years.

In my previous life I did site design for a few automated car washes.  

If you are considering it more for regular life benefit then I say go for it, knowing that it is the primary reason and anything you get from the investment part is just a bonus. 

I was lucky to not have to deal with that outcome.All I can say is take a few deep breaths...... life will go on....you will be ok.... don't panic too much until you know the damage.