We chose it for its affordability, solid condition, and proximity to Fort Riley, which helps ensure consistent tenant interest.1029 W Ash Street became a smooth, low-maintenance addition to our portfolio and reinforced the value of targeting well-located properties that require little upfront renovation while delivering steady, reliable income.

They sell tarps with reinforced pre-cut slots in them for this very reason.

This reinforces the importance of being well-rounded in every area of real estate, rather than relying too heavily on someone else who could make or break a deal. 

@Joe Villeneuve the reinforcement is beautiful.

Here's how we handled it:Carpet removal to prevent mold and speed dryingIndustrial fans and a dehumidifier brought in immediatelyDrywall and baseboard cut 6–8 inches from the floor (no moisture detected with a meter, but we didn’t want to risk it)96-hour drying period with equipment running continuouslyDrywall & painting contractor brought in for a full room (and full house, once we committed to a complete re-pipe)New carpet and padding orderedRe-pipe scheduled and completedThe Cost Breakdown:Carpet and Padding: $527.84Drywall, Trim, Paint, Finish Work: $2,200.00Paint Supplies: $87.70Full Re-Pipe: $5,242.20🔻 Total Out-of-Pocket: $8,057.74Yes, we’ve submitted an insurance claim and are optimistic about some coverage, but this situation reinforces a point I think many newer investors overlook: you must be well-capitalized.The Reserve Rule We Live By:We personally aim to keep a minimum of $10,000 in reserves per door.

I think it’ll reinforce your position and open more eyes to what’s quietly brewing in several markets. 

Yet some industry veterans argue that limiting exposure could hurt sellers and reinforce exclusivity in an already elite sector.I believe private listings can be beneficial in creating unique opportunities for buyers and agents in a competitive market. 

I think that some of the lessons you highlighted reinforce the view that real estate investment is a long game and we aught to give more attention to risk management, including having adequate reserves funds and doing stress testing of individuals assets as well as the portfolio as a whole.

For generalization I'd reinforce it's INVESTING and not buying paychecks, so view an aggregate median of the first 36 months NOT yr1 as a standalone. 

Definitely need search for local REI meetups.Was already looking for a modest apartment for my girlfriend and I, the advice just reinforced the need.