Let’s say with your plan they make an extra $100 or $200 in fees and you lose $1000 or $2,000 in bookings.

While the heater issue adds extra stress, addressing it promptly will protect you from further fines and penalties.

Will you continue to buy in that neighborhood with your next purchase @Teslim Salami?

If you buy an investment property with your IRA, most require a non-recourse loan.

So shift your expectations to most of the cash out and you'll be good and you'll actually start buying deals, versus people who wait for the perfect deal, spin their wheels for 6 months terminating contracts/analyzing hundreds of places, and then eventually burn out and give up. 

After reflecting on a strategy someone used to buy 15 short-term rentals off-market in just 12 months, I thought of an idea.

if you buy a long term rental, you may not see true returns for 5 or 10 years (although there are other immediate potential benefits, like passive losses on your taxes). 

Focus on getting the first one and try to buy one a year. 

I’d start with a smaller deal - buy a 6 to 12 unit say - raise money from your social and professional sphere - people who know you - who you have a beer with etc.

Our current mortgage terms include a late fee after 5 days, so they’re already paying extra each month and have to split the total monthly payment up between 2-3 payments when they get their pay check.