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Updated about 8 years ago,
Looking to purchase first multifamily need some advice
I'm looking purchase a small (<20 unit) multifamily property and I plan to purchase with other investors as part of a joint venture. I need some guidance on the following:
1)is there any accounting software for property management that also includes accounting for investors (i.e distributions and K1s) and other provisions in the operating agreement such as if I need to do a capital call?
2) Should I have a live in super? If so, what do I do if he is unable to perform or goes on vacation? Are there services I can hire to provide this service without the need for me to have a live in super or if I have one can provide the services on a temporary basis while the live in super is away?
I plan to do the property management myself.
Thanks