How bad was it?  

Happy to share.Appreciate all insights — good, bad, or brutally honest. 

Quote from @Aakash Patel: Hi guys,I am currently in the process of buying a LTR rental property in Newark, NJ near Forest Hill area--this is going to be my first LTR property. 

That's more true now than ever before as Airbnb has further and further stripped hosts of their ability to reasonably recoup costs from bad guests without sabatoging your own business.  3rd party damage insurance like Waivo or Safely is a must these days but that's yet another cost that feels like nickel and diming.It's just the reality of the business. 

Unfortunately, there seem to be investors that buy too high and then when the overages arise and the delays pop up are jammed up against HML payments resulting in fire sale pricing to get out from a bad deal. 

Now, the property cash flows very well and I'm glad that I kept the property.When bad things happen, you have to zoom out a little bit.

Perfected Lighting (This is #1 for a reason)Bad lighting makes even a good renovation feel cheap.I upgrade every room with:4–6 recessed LEDs (3000K or 4000K depending on vibe)Bright vanity lightsA clean, modern dining chandelierBright homes photograph better, show better, and feel newer.2.

A good lender will keep you out of bad deals as much as they’ll fund the good ones, and building that relationship early makes your first few flips a lot smoother.Haha, I as we like to say, that rate is only as good as their ability to ACTUALLY close on it. 

IF the tenant is bad/ problematic, then I know a few people who go for month to month just because it gives the flexibility to end their stay by giving 60-day vacate notice. 

I’d love to hear real experiences — the good and the bad — especially from other out-of-state investors.ChristopherIn my opinion the first question should be how involved do you want to be and what are your investing objectives.