It is possible the previous owner filed paperwork which is causing the confusion and it can be fixed.

This is great for resell value and long term capital growth, but sometimes this can cause the property to sit vacant for a little longer between move-out and re-lease.

Be prepared to go months without rent either because your tenent stops paying and/or you have to spend a few months and 10k to get the property back ready to rent due to the damage caused but the previous tenant (who you may or may not have had to spend the time and money to evict).

Just realize this, if that $600k that got listed in Sep 2023 ends up selling in February 2026 for $430k cause someone beat my offer by $10-20k, so be it.

@Jeremy Beland One challenge that's causing frustration for us the seasonal market slow down during the winter.

That would help immensely cause $1m/year in Phoenix is different than Los Angeles or Cleveland.How much of W2 vs stock market gains?

Effective management means inspecting the building and making sure there are no health or safety risks including defects that will cause premises liability exposure,  frequent physical presence to spot premises liability risks that arise and quickly eliminate them, good communication skills, treat tenants fairly and with respect and exceed implied warranty of habitability standards, understand fair housing laws, use contracts clearly define scopes and responsibilities and  shift liability,  hire licensed and insured vendors and where appropriate obtain endorsement naming the property owner as additional insured, understand the local licensing and permitting requirements for building  improvements and renting real estate and make sure they are followed,  carry the appropriate insurance coverage and avoid conduct that would be listed as an exclusion (normally following through on everything above covers this). 

Third hand knowledge from a neighbor that heard from a tenant that claims that they told the owner will not go very far in a hearing I would imagine.If the home is concrete slab I would highly doubt that a window leak would cause the foundation issue, if a post and beam maybe?

That’s why disrupters cause such disruption; the “disrupted” must eliminate waste, trim the fat, modernize, and lower prices.  

What if you screw something up and cause a loss or a lawsuit?