Thanks Chris!
Great tip on the closing costs. I've factored in some pretty conservative numbers for both closings to hopefully account for this. Yes, our numbers currently factor in PITI, property management, and repair and vacancy reserves although we plan on running the property ourselves as long as we are in town. We think this is the best scenario for us to learn the business. If we move out of town, we will have a much better idea of what to expect from a property manager.
Thanks for the direction on compiling lease material. I'll start pulling the information together for our lawyer to look at as well. We too plan to have multiple properties and want to get as much right from the start as possible.
I've been listening to the BP podcasts and started formulating a Rent Talk book to put all the tenant informant into one document for our renters and ourselves.
Thank you!
Sonja
