All Forum Posts by: William Lackey

Newbie here. Purchased duplex and I am preparing it to rent both units. Because I only have two units I don’t really need a property manger (or so I think)....

What is a good service with low fees that I use to collect monthly rent payments and also use to provide receipts/protect myself? 

Is there a certain % (or rule of thumb) I should keep for reserve funds? 

Wife and I just bought a duplex. We put 25% down. Our expenses on the property are $705 a month. We will be renting both sides for $900 each- $1800 total. How much money should we keep set aside? Should we view each unit separately or just view the duplex as one property since it’s under the same roof? Thank you in advance BP fam for helping some rookies!

Wife and I flipped our first property in 2020. Recently purchased a duplex and we will rent both units. What kind of business can I start to take advantage of tax deductions. My wife and I are both W2 employees and make about 200k. Neither one of us have our real estate license. What kind of in-home business (relating to rentals/real estate) could we start to take advantage of tax deductions. Thank you in advance for helping out some rookies!

Currently under contract on a duplex. The portion of road... only 1/10th or 2/10th  of mile leading to duplex has a bunch of bad potholes. Just by fixing this will make everything easier for everyone. Any input as to how I could fix the potholes in the most cost efficient manner?