When I used to do this as a GC, I would take care of EVERYTHING, and get 50% of the net profit when the job was done.

I will update this post when we hear the results but the take away is 1) be careful who you rent to, 2) treat violations as a business and compassion needs to take a backseat and 3) be prepared with your details when you go to court and have copies for the judge / magistrate.

Tenants don’t care about features, they just want one place to pay rent and get problems solved.

@Stephanie Cortez As RE investing gets more complex and cities like Philly are getting tougher, the savvy investors are doing well and buying up opportunities, the newer investors are often stumbling through their first acquisitions and learning the hard way how resilient they are (or are not) and the folks in the middle are hopefully working on getting smarter and more careful about everything - vetting tenants better, being smart about renovations and maintenance, exploring alternate strategies when necessary. 

After a lot of research and careful thinking on what I want out of this, I landed on the house hacking strategy.

Take your time learning, run your numbers carefully and don’t hesitate to ask questions.

She raised rents carefully, made small upgrades, and increased the total property income by almost 20% in the first year (Covid helped).

Be careful hiring a freelance bookkeeper overseas. 

Would love to get your feed back...the deal looks like a site built 950 sq. ft 3 bed 1 bath with one car garage, buy at $115,000, put $30k into(if I am picky and careful). 

I don’t even care if it’s ours, just get out and meet people.