When you file your taxes at the end of the year the accountant is going to ask you for your receipts or what and how much you want to write off using deductions.

If you don't have a great accountant which most are not. 

You can opt to automate rental payment collection so Turbo Tenant collects rent, and deposits it into your bank account. 

The point is that if you ever find yourself involved in an eviction or a contested deposit, you don't want anything in your lease or that you've charged for that will make you look foolish in front of a judge.

So the payments will be higher than a 30 year and you have to account for that. 

Can I personally take that extra finance money tax free into my own name or personal bank account to do with what I please, or does the refinance money have to stay in that Llc company and I cant use it personally.

I am now under the suspicion that their friend, the one who is still living at the property, is the one who created separate accounts for all three of them and did the signing for each individual who is under this lease agreement. 

Most people cant afford that alone which means a syndicate or getting PMLs involved and doing the synd yourself. there's nothing wrong with starting with some smaller properties.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Hi BP community - I'm an investor with 3 SFHs in the Nashville area looking to acquire my first small multifamily property (2-4 units).I'm trying to determine the best approach for the 25% downpayment, comparing using cash that is currently sitting in a high yield savings account to funds from a HELOC on one of my properties.