Even if everything is technically operating within the rules, a few complaints from nearby residents can lead to inspections or restrictions that affect hours or events.Insurance also ends up being much more expensive than people expect, especially liquor liability coverage.

Hi everyone,I’ve been working in property management for over 14 years and currently manage the operations of an 89-unit residential portfolio along with 5 commercial storefronts in New York.My day-to-day responsibilities include tenant relations, rent collection, Section 8 administration, coordinating maintenance and vendors, handling inspections, and making sure properties stay compliant with NYC housing regulations.I joined the community to connect with other investors and landlords, share experiences, and learn from others managing rental properties.

Here is how I understand it works:- You search for homes inside the platform which has full MLS access- It utilizes AI to analyze a home and spot red flags, provide comps, and market analysis- They partner with local realtors who are paid a flat fee to unlock and show you the home- Ai will provide price recommendations and draft an offer (always reviewed by a real human broker)- A human specialist helps keep things like inspection, lender requests, and title tasks on track- The seller pays Homa the full (typically 2.5-3%) buyer’s agent commission.

The seller disclosed this info so I have not had a chance to confirm this as I am not sure I want to go through with it or not and waste money on inspections to find out it will cost more than I think the building is worth.Also, the units have artex ceilings which I heard likely will have asbestos in them.

So in my experience I do not like getting tenants already occupied in rentals, coming from my background I like to inspect and fix any issues before placing a "proper tenant" or you can risk losing a good tenant over some issues if they get out of hand.

The POS requires the city to inspect your property for any violations prior to sale.

I started in Memphis, TN, and my most recent deal was in Atlanta, GA.I remember when I was door knocking for roofing inspections.

These, however, if you review and understand them, will enable you to navigate through similar forms.Current Fair Market RentsHAP Inspection Checklist WITH the Standards needed to pass.If you have specific questions, post them in this thread...

In Seattle, you cannot collect security deposit until actual move in date as the deposit is secured by the Move In Condition Inspection; The Move In Inspection must be signed & dated by your tenants, if not, the tenants can demand security deposit be refunded. 

Cities tend to be tenant friendly and require a ridiculous amount of red tape like inspections and other things between tenants.