“Mitchel, you’re setting yourself up for success early—props to you for diving into multifamily while balancing school, baseball, and your upcoming career with EY.

- Loss of historical data (for both IRS audits and for personal portfolio tracking.)You should be able to print the general ledger and Balance sheet / income statement for each period.

Enough immediate cashflow to balance out the mortgage, taxes and insurance.

Research local rental demand, especially from military and university tenants, and consider balancing your portfolio with single-family and multi-family homes.

It's an interesting balance because you don't necessarily want to have to understand too many markets but you also don't want to suffer a big setback if any one market takes a hit.

Some tenants had water bill, gas bill, non payment, etc of up to $5000 in balances.

The balanced owed on the property is about 97K. 

@Jaren Taylor, not sure if this is why you talk about raising all cash, but given most deals are trading in the 5% cap rate range, and agency debt is 6.5% while balance sheet debt is closer to 7%, I whole heartedly agree that all cash is the ideal capital structure for many properties today, if your goal is to maximize overall returns for your investors.  

@Juan Antonio Villagomez If you're new to rental property taxes, your approach should balance cost, compliance, and tax savings.

How do you balance being available around the clock with avoiding burnout?