EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

Skip forming a corporation for now—it won’t protect you from personal loans, and it adds unnecessary costs.

Baselane, on the other hand, provides everything you need at a reasonable cost and is tailored for smaller landlords like us.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

In one of my markets assessments are performed every 3 years, and the cost of 3rd party appeals will cost 30% of 1 year savings. 

Interview multiple ones to ensure they can handle high-turnover tenants.Long-Term Viability → Crime, maintenance, and turnover costs could eat into your returns.

to save costs, and responses sometimes took weeks.

I get it...I get emotional with properties and buy into the sunk cost fallacy too.

Of course, I had to make additional assumptions about the cost of property taxes, insurance etc. 

Given that the property was worth $390K in its current condition, I saw an opportunity to make the numbers work while keeping my upfront costs low.Instead of increasing my cash offer, I negotiated a $25K down payment with the seller carrying the balance for two years through owner financing.