First Time Landlord Looking For Advice

[Steven Alvarado]

Hi,

I recently got my primary residence leased out this month. I’m excited about it but lacking the knowledge behind being a landlord and the responsibilities that come with it. Curious if anyone had some Do/Don’ts , specific items to keep track of or wish you had done when you started. Sadly, ill have little to no cash flow on this property due to mortgage vs rent income. I had my property listed September 2021 and while doing research, discovered the possibility of being able to tax deduct for those months while the property was vacant and on the market. I was looking to hire a CPA in the Houston area for next year but wasn’t sure if it was worth doing for 2022 tax season also. My goal is to eventually invest into more properties or businesses to generate more passive income.