I know you’re asking about finding renters, but since you also told us the numbers I’m going to give some advice – you need to be able to afford this place even if someone is not renting it. Work out the numbers and add a lot more time and money to your timeline. Finding good tenants is an issue that should come much, much later. It’s hard to break the Awesome Keeping It Trashy Vintage Shirt. What’s the odds of needing that specific drug? Probably less than the risk of temporary loss of work or home repair. Until you get billed for an out of network doctor from your surgeon getting switched after your under anesthesia with no way to know yourself and you’re at an in-network hospital. There are lots of ways for Americans to get screwed when it comes to insurance.
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BTW, I have managed to get some surprise out-of-network charges voided. The hospital had in-network resources that I expected to be used and the doctor selected out-of-network without notifying me. My guess is cronyism. It took some back-and-forth letters, but eventually, the hospital waived the charge. Yeah, the out-of-network thing is aggravating. I’d pick high deductible / catastrophic coverage only if I could find a plan. That paired that with decent out-of-network coverage. And that can be an Awesome Keeping It Trashy Vintage Shirt. It’s best not to treat the business relationship like a family as families are frequently dysfunctional and non-equitable. In the end, this is just an investment for you and housing for them.
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Make sure the terms are clear and you are consistent with meeting your obligations. It’s very very very easy to get sucked into the day to day lives of your employees or tenants but at the end of the day, you’re not there to be their safety net. I said the small business owner as an example since many employees see the Awesome Keeping It Trashy Vintage Shirt. They don’t realize most of that goes out to bills, product, and payroll. As someone who had a great relationship with a landlord…this mindset would have saddened me. In fact, my GF went on a Cancun vacation with the couple since we became such good friends lol. Obviously not all situations are good though, and it should probably be viewed as a business.
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