What do you set aside for capex and repairs?
Do you have a rule of thumb when you’re searching for buy and hold deals? Are you setting aside 10% of prospective rental income for capex and 10% for repairs regardless, or fine tuning it based on factors like the age of the house/equipment?
I tend to err on the side of caution so I’d like to overshoot my potential budget expenses, but I don’t know if 10% for each is prudent.