Maximizing Deductions: You can still claim tax deductions (mileage, repairs, management time, etc.) on both properties as long as they’re legitimately related to rental activity, even if one isn’t in an LLC.

The 70% rule suggests buying a property for 70% of its ARV minus repair costs to ensure profit.

That does not qualify as "managing repairs."

don't have to have all the functions just wanted to know what will be recommended. thank you  1. rent collections; 2. late fee handling; 3. auto eviction; 4. 1099 / report; 5. repair work order/ maintenance requests; 6. listing and screenings etc

Maintenance and repairs typically range from 5-7% of rental income, compared to the standard 10%, as new builds have fewer immediate issues.

If you decide to self manage and want help with other functions we can totally help out.We also buy and sell real estate (candor realty), have a repair and maintenance company (CMR Construction) (includes snow plowing, lead abatement and full fledged rehabs) If you need any of those support services please let us know.

This documentation will be helpful if you ultimately decide to charge the tenant for repairs.

If you spend it now, you lose your leverage for the rest of the lease, and you'll have nothing to handle unpaid rent, cleaning, or repairs after termination.You are starting down a dangerous path.

My limit is set to $500, and I never was sent a request for this repair.

It wasn’t a detailed plumbing drawing- he had shown one line going to all units while the contractor pointed out that it is better to show individual lines to each unit as repairs and maintenance are easier. and some towns even require it .