I have a w-2 income and own three properties, all long term rentals, that I've had for a few years.

Rental rates are fine for SFHs - I haven't had to drop my rates whatsoever with turnover, nor have I had a single tenant try to negotiate a lower rate. 

A 3% appreciation on a $3K/month rental will do better in cash flow in the long run than a $700/month rental.

After years of focusing on my career and building financial stability, I’m ready to dive into real estate investing and start creating passive income and long-term wealth.My short-term goal is to purchase my first duplex or single family rental. 

Hey Daniel,With that $500K HELOC, you’re in a great position to leverage it for a multifamily property, especially if you can find a deal where the rental income covers your debt payments and builds equity over time.

Every investor has a different approach, but I personally buy my rentals the same way I buy my flips..at a deep discount using hard/private money, then refinance with a rate-and-term loan to secure a lowest interest rate.Ultimately, it comes down to your goals, risk tolerance, and ability to find value-add opportunities.

That is taking into consideration employees and 65 rentals, so I am sure you will be a lot cheaper.

Quote from @Gregory Wilson:As for the second, there are only about 20 monetary numbers to be entered in Turbo Tax on a single unit rental property 1065 so it always seems to me that the $3500 would be better spent elsewhere.

This is a very common issue in parts of Milwaukee and I have done lots of basement reinforcing on our rentals.

Hello everyone. I’m wondering what all I need to provide my tenants with this year as far as taxes are concerned. I bought the property in June, have had 4 renters the first month and then 3 the remaining of the year....