Hi Brian,You're on the right track, but to determine if you're truly generating cash flow, it's important to look beyond just your mortgage payment.Here's what to consider:Income: You're receiving $2,100 in rent, which is great.Expenses: Besides your $3,232 mortgage, you likely have other expenses like property taxes, insurance, maintenance, utilities (if you cover any), and potential vacancy costs.If your total rental income exceeds all of these combined costs, then you're generating positive cash flow.

It allows a substantial portion of the asset's cost to be deducted in the first year of service.In 2023, the bonus depreciation rate is 80%.In 2024, it decreases to 60%.In 2025, the rate further reduces to 40%.COST SEGREGATION:Cost segregation involves dividing a property into its individual components for tax purposes.Some parts age faster, like carpets or paint.Your CPA can use this info to more accurately depreciate elements of your property leading to potential tax savings.BASIS:Your basis is the initial price that you paid for your property, including any expenses or improvements.Knowing your basis is crucial for tax purposes, as it's used to evaluate depreciation & determine the capital gains or losses if/when your property sells.LAND VALUE:This is how much your land is worth without any buildings or improvements.Land doesn't get old like buildings, so you can't depreciate it.

In the area, we determined that the it would be a good mid term rental and started marketing it as a furnished rental especially with some of the construction and events going on throughout the year.

If it's 1-4 units, then you'll need to look at comparable properties, but with 5+ units you'll want to determine the future value with NOI and cap rates. 

By simplicity I mean, it becomes important to determine WHEN a payment is made.For example, if a tenant is mailing you a money order is the payment made when its mailed?

Here are a few negotiating tips to be successful: Have a good idea of local housing market conditions to determine if it’s a seller’s or buyer’s market.

Outcome: Determine the county where the property is located.3.

The testers help determine the probability of incorrect outlet wiring for an outlet.Aside from checking the outlets directly, you can research local electrical codes to ensure that your breaker panels are in compliance and that you have the correct types of outlets in the appropriate locations.

Now we're seeing investors pouring money into buying Class C rentals - but, many are getting burned.In our experience & opinion, the main determinant of property Class is not location or even property condition, those are #2 and #3.

Actions determine whether you have cause to terminate an agreement, for example not paying the rent.