[quote=spdrun]the tenant will be signing a contract making repairs below $500 their responsibility.[/quote]
Is that legal? Or even wise? I can see a scenario where there’s a leaky pipe, the tenant didn’t want to shell out the $ to fix it, and you end up with mold all over the apartment. Which will cost you thousands to dollar to fix. Or worse yet, they have asthma and the mold cause them problem and they sue you for having an environment that’s not healthy.
Why didn’t you just invest in NJ get better return and not have to deal with problem if problem occur in SD? I would assume one trip out to SD and that would wipe away a lot of your profit. Especially if it’s a cheapy 1/1 and making only 7.5% cap rate.
