Water in the basement is never a small issue.What it could mean: Future mold, foundation deterioration, ongoing repair costs.Fixability: Yes, but potentially expensive ($5K–$20K depending on scope).Must-do: Bring in a basement waterproofing contractor ASAP for a professional opinion.

That same generation is keen on selling subto because that risk of the buyer destroying their credit significantly deteriorates when their credit is not longer critical to them. 

You'll also want to ensure you have a good property manager to look after the upkeep of the property if you are not there to notice anything deteriorating or which may need attention.Creating an LLC in California could cost you a minimum tax of $800 every year.

Long-distance Landlords typically let properties deteriorate or allow bad tenants to damage a community.A good PM watches your property, inspects the interior regularly, choose solid renters, removes bad renters quickly and efficiently, reduces vacancy, handles maintenance quickly, keeps your property at market rates, stays current on the laws, and much more.

You could add language stating that normal wear and tear is expected, but excessive damage to the floors, including deep scratches, stains, or deterioration beyond reasonable use, may result in deductions from the security deposit to cover refinishing or repairs.Something like this might work:"Tenant acknowledges that the original wood floors are a unique and irreplaceable feature of the property.

If there are any surprises like liens or something else that will deteriorate the value of the house, then the seller may have to bring money to the closing table which is a non-starter them since they are financially strapped.

Save the money for when they move out or invest in another property in the meantime.I will read up more into the local laws So the main improvements are:-The exterior service entrance cable is heavily rotted/deteriorated allowing water to enterthe system.

Quote from @Bol Oke: I have a multi-family rental property in Milwaukee (Hampton Heights), and it has a deteriorating wooden deck with a door leading to it.

You'll also want to ensure you have a good property manager to look after the upkeep of the property if you are not there to notice anything deteriorating or which may need attention.Creating an LLC in California could cost you a minimum tax of $800 every year.

Quote from @V.G Jason: Quote from @Carlos Ptriawan: Btw Fitch had answered my question about unemployment and real estate.According to a new release from Fitch Ratings, the housing market continued strong profitability in the face of a slowing economy in 2023 has led Fitch Ratings to revise its 2024 sector outlook for U.S. mortgage insurers to neutral from deteriorating, according to Fitch’s outlook report for the sector.