A friend of mine bought a house in Florida planning to rent it out, but discovered the original owner failed to disclose a major plumbing problem that the inspection didn’t reveal (the toilets didn’t flush if it had just rained), and had to choose between doing massive ground excavation work to fix it or sell the property at a loss.
And he still thinks real estate is a good long-term investment.
Yup. Also IF you want to be a landlord, video record every single interaction with the renters. Video record the entire property at time of rental with them in tow.
Had a friend deal with renting pro’s (that had kids btw). They claimed electrical issues & wall wiring fire hazards. The renters are the ones that created the problems purposely.
Took him 2 years to get them to leave, after he paid them to leave & they didn’t pay one cent in rent that entire time.
HUD complainants they filed etc & renter protection laws.
Game on if you want to get involved. It’s a real game.
