Especially the first time something bad happens (and something bad will happen) such as an eviction, slap leak, collapsed sewer run, new roof, etc it could be challenging to see the positive of having a cash negative rental.Make sure you are mentally prepared to supplement this property for potentially years through some difficult events.good luck

For a first home, lock your “buy box,” get preapproved, inspect sewer/foundation/roof/HVAC, price insurance and taxes upfront, and decide your exit before you enter.

I recently got a metal roof quote for a project where the highest bidder was 90,000 and the lowest was 30,000.

Example- basic cleanup, tuckpointing stone work, taking off old roof, etc.  

PITI is about 1800.I have sufficient reserves in the SDIRA to cover anything major (the unit has new appliances, water heaters, roof, and paint).

The exterior was painted, new windows were installed, and the roof was completed. 

When you’re buying a full rowhome, gutting it, installing new framing, changing the layout, adding bathrooms, replacing windows, running brand-new plumbing and electrical, new roof, dry-locking the basement, etc.

We had houses caught in the Texas storms/flooding/hail and would have loved a line to put roofs back on houses.  

Roof condition is something that my brain checks automatically while I get out of the car the first time I see a building. 

We are moving towards SIP panels for both walls and roof going forward, which should shave off more time.