This separation helps in maintaining clear financial records and simplifies tax reporting and financial management.Setting up an escrow account specifically for rental income within your LLC can offer several benefits:Financial Clarity: It separates rent payments from other operational expenses, making it easier to track income and expenses related to the rental property.Legal and Compliance: Helps in demonstrating that rental income is kept distinct from personal or other business funds, which can be important for legal and tax compliance purposes.Tenant Transparency: It provides transparency to tenants and other stakeholders regarding where rental payments are deposited and how they are managed.While it may not be a legal requirement in all cases, maintaining an escrow account specifically for rental income is a prudent practice that many experienced investors and landlords follow.

Just waiting to get the word on our move date from my husband's company before pulling the trigger on engaging with realtors and sellers. 

I would also recommend understanding the new CT law so you stay in compliance. 

Hopefully I’m able to find something so I can pull the trigger on my first deal. 

This is the quantifiable data that operators need to pull the trigger on buying the high dollar items.

. - Strict local regulations can also sometimes increase compliance-related maintenance costsCost-saving strategies I've seen help:- Preventative maintenance programs can help reduce overall costs obviously - Some investors report success with in-house maintenance teams for larger portfolios- Energy-efficient upgrades can help reduce utility costs in the long runYour specific costs will depend on factors like the age and condition of your properties, your management style, and the specific neighborhoods you're invested in, but hope this helps!

When you found violations, did you document them in writing, give the tenant a deadline for correction, inspect to verify compliance, and use consequences for continued violations?

You are relying on their market expertise, problem-solving, lease enforcement, legal compliance, and so much more.Remember: cheaper doesn't mean you'll make more money.Start by going to www.narpm.org to search their directory of managers.

Keeping documents organized with cloud storage solutions like Google Drive or Dropbox is also highly beneficial.For compliance, using templates for meeting minutes and maintaining a compliance calendar can help manage important dates for filings, renewals, and meetings.

Also keep in mind depending on what time of refinance you do, there pay be a prepayment penalty that is triggered when you refinance again.