About to close on a 10+unit apartment building and my wife and I would like to self-manage as much as possible, as I am local. 

Depreciate 75% of the building value (excluding land) over 27.5 years for significant tax savings.

Build new brick mailbox at front of property8.

Hiring a contractor to assist with repairs and a property management company to manage rental.

In a city like Philly, you will face many challenges - you need to learn the market and know the neighborhood and the block and make sure all of your numbers are within reason, you need very reliable contractors, you need a to understand the permit process, you need to be familiar with market expectations. 

I’m passionate about real estate and am working towards building my investment portfolio, with a goal of acquiring five rental properties over the next five years.I’m here to connect with like-minded individuals, learn from experienced investors, and share knowledge along the way.

Not calculating your basis properly between building and land, which impacts depreciation. 2.

But I purchased land in cash and leveraged it to build a new construction stick built home.

They also told people to stop sitting on home equity and tap into that as an asset to use for education and build a better life.

That is a great nest egg to build upon, and it diversifies your wealth.