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Houses. The maintenance cost does not have a lot to do with the $ value of the property. It is the cost of a door lock, or a fly screen re-mesh, or a HWS replacement. These are much the same for a cheap house or a more expensive one. ;)

^ ^ this is also what I allow.....about $1K per property pa. Some years an individual IP costs me nothing and in other years, another costs $2-3K for some major expense like a HWS. But it still averages out about $1K per IP per year. 2% in nuts IMO.