Stability: Homeowners tend to stay in their homes longer than renters, which can create a more stable environment for families and children.

One thing that’s helped me stay on track is creating a timeline as soon as a deal is under contract, mapping out every key date and task.

In the time it took you to create an account on BP could have yielded the answers you’re looking for.  

@Devan Praska I do not have a manual for my tenants but have created a manual for each of my properties in the event that something might happen to me and someone else would have to take over the management of them.

@Tonio PearceYes you should create a business plan.

Once that happens, the legislature may try to create even more draconian measures.   

Just want to start setting up as if it were. so far i have thought about creating 7 accounts.1) all rental income account 2) account where common utilities and mortgage will be billed3)maintence/capex expenses4)vacancy expense5)management expense (to put the units up for rent)6) property taxes 7)cashflow am i missing anything? 

@Tim Holt Come February, it's legal to create an ADU by-right on any single family property in the entire state.

-Creates a solid foundation for passive income, allowing you to reinvest future cash flow into other opportunities without as much financial risk.Cons:-Ties up a large amount of capital that could potentially be used to generate higher returns elsewhere (like another STR or other investments).

., repairs, management, communication with the seller).Exit strategies in case things don’t go as planned.When you do find the right partner make sure to create a joint venture agreement that outlines all of this clearly.