What they don't account for is that I could buy the home 15% below market rate.

I got my last tenant through apartments.com and historically FB has been a great lead source.

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

It has been discussed on this forum multiple times, you can search the forum for earlier threads.The reason CPAs disagree is because it's somewhat controversial, especially between accountants who do NOT specialize in real estate.

Phil Alexander, the main guy, does not hold the local providers accountable.

I received wire transfer instructions to a credit union in Utah with a totally different account name than the company.

Moving to a portfolio model—where a pod (1 PM + 2 VAs) manages all aspects of 200+ units—streamlined operations and improved accountability.

I got good at estimating renovation costs by making an initial estimate based on photos/walkthrough, drawing up a model like you see here, then once the project is finished, go to accounting, get the actual expense report for that property, and update the model.

@Sean O'Keefe I believe the study this refers to actually costs around $500, plus a few dollars to your accountant if you want him/her to walk you thru it.

As a "retired" public accountant and tax consultant I perform a lot of detailed ROI analysis for my clients.