That one factor alone would have crushed my entire investment thesis.I also never budgeted a dime for the condition of the drive.

I would focus on the exact numbers when looking at deals. 

Leave you with one last question: Does your reports from any software tie in to exactly your tax return? 

Here are a few ways I use them for long-term rentals:Tenant Communication: handling inbound calls, screening applications, scheduling showings, and following up.Property Management Support: coordinating with contractors, managing maintenance logs, and tracking work orders.Back-Office Work: bookkeeping, updating QuickBooks, rent collection records, and reporting.Marketing & Listings: creating property listings, posting on rental sites, and monitoring inquiries.The biggest success comes from training them on your exact systems, not expecting them to build it for you.

Would have to know the exact property to give an educated response along with the details of the offers.Would also need more detail on the offered terms.

Property Condition & Amenities: it’s important to, “Maintain to the Neighborhood.”Key metrics for each Property Class:Class A Properties:Tenant Pool: Majority of FICO scores 680+, no convictions/evictions in last 7 years.Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.

@Michael Smythe Exactly.

I thought that was exactly what the radiator covers were for a nice shelf to warm up the towels, the gloves and all the other stuff!

I also take an initial look at things like location dynamics (employment drivers, nearby schools/universities) and property condition.

Hey Alex,We’ve been through this exact decision with other investors, I have pondered many times over and have done it both ways—here’s how we usually break it down when there’s a paid-off rental, tenants who might buy later, and plans to use equity for more deals:1.