New Investment Dilemma
This is my 8th acquisition, and need to ask advice, ideas, as you will hear the issues, next!
Bought property, closed Dec 30 2020, no tenant. Using my property manager of 4 other investments, they set about preparing for market. The previous PM, deliberately, took two weeks / mid Jan to hand over keys. Discovered that water was locked due to non payment and naturals gas due to gas theft. Took a couple weeks / End Jan to have seller sort out gas. End Feb, the earliest we could get Water department to do “inspection”, and turn water on. On that day, last Thursday, all under home water pipes burst due to them having been frozen and gas being off. Now I have to pump out the basement, repair pipes and more. What a dilemma! Would like advice, should I be engaging my insurer? Should I be holding seller responsible, or other? Thanks for any advice.