Tired of getting nickle and dimed...

[Patrick Britton]

I own about a dozens doors and am beginning to wonder if rentals is the best way to go.  Fortunately, to-date the tenants have been very good, (at least the ones GC Realty & Development) has found for me.  But between the utility bills, a few maintenance things (which i don't mind too much) and the little things the PM company charges I'm getting a little worn out.  Then there's the mess that is tax season.  I don't see any tax benefits of owning rentals when the CPA charges me $4,400..."but you get all these deductions!" they say.  True, but for $4,400 out of pocket it's not worth it.  

A number of rentals I own have been successful BRRRs in which i got paid back more than the upfront costs so my out-of-pocket at the end was $0, in fact i made some money sometimes.  But looking back, I would have made a lot more money upfront (obviously) if i had flipped these deals with a fraction of the headaches and of course, no ongoing horse-poop too deal with.

I am curious to know if other landlords have experiences these issues, and if there's some things I can do to reduce the headaches.  Quite frankly, notes are looking a heckuv-a-lot better than rentals right now, and with prices continuing to go up why not flip now and buy and hold during the next recession?  

[Patrick M.]

With a dozen doors and a management company I would be god damned if I was going to pay some douche bag $4,400 dollars to plug some numbers into a schedule E. Yeesh! And then that turd nugget has the nerve to make it sound like he created the tax deductions!

I track my income/expenses from 2 buildings- 9 doors- on a spread sheet and pass it off to my CPA/ESQ and he charges me less than $500.