Hi all,I have a triplex in Louisville zip code 40203 and the water bill has been average over $100 per month per door.

Your rental dwelling policy will cover if you have water damage coverage.

Unfortunately, this led to a fairly substantial amount of water leaking to the unit below and causing at least some visible wall/ceiling damage.My tenant caused the flooding (he has admitted in writing that this was the case).

yes, typically a sign of hard water, may need to add a water softening system. 

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $1,125,000

Cash invested: $400,000

Sale price: $1,600,000

https://www.airbnb.com/rooms/930551536097808640?sourc...

Yeah well they been promising me peace on earth, clean water, clear skies, low tax's and all the other oh-so-good for long as I can remember. 

Value added by turning a 3 bedroom, 2.5 bathroom into a 4 bedroom, 2.5 bathroom This includes new roof, 2 new HVAC systems for split units, water heater, updating electrical/removing nob & tube wiring, plumbing updates, 17+ brand new double paned windows throughout, leveling out the flooring and adding hardwood throughout the entire property, replacing all drywall on walls & ceilings with over 100 new sheets, gutted both bathrooms to update tiles/vanities/ tubs and showers with 2x1 tile throughout for a modern feel.

On the day of final walk-through before closing, I noticed a small water puddle around the cove joint in the basement.

But, but, but...some of these PMs are sitting on a few $ million, and can't resist dipping in every now and then to use the money to buy themselves a new boat, house, or lavish vacation. 

The down payment is only the opening bid—infrastructure fixes can arise quickly, so lining up contractors early, maintaining healthy reserves, and resisting seller pressure to distort our numbers were crucial.