OP also gains from appreciation and eventually recaptures principal and capital expenditures.

Repairs vs. capital expenditures.- Find out how long the provider has been doing cost segregation studies and how many they have performed - Consider the resources available to the provider. 

Hemlane offers property management through our innovative model where we send 100% of the rent to you so that you can control and approve expenditures as well as have full transparency into the day-to-day so you always know what's going on and can make key decisions. 

You either spend the time categorizing your revenue and expenditures as you go (easier) or at the end of the year (harder IMO).

Cash flow is not a myth.If you properly budget for your expenses, including capital expenditures(Roof, HVAC, furnace, etc), then you can rely on the cash-flow.People who say cash-flow is a myth are normally people who say things such as 'we had to pay for an unexpected roof'

Multifamily is great for spreading out capital expenditures between mulitple units and living for less out of pocket each month.  

I use Baselane and even though it's very simple to set up accounts and to have dedicated credit cards for each property, I do have to watch very closely that the deposits and expenditures go to the right account so I don't leave myself short anywhere.

Conversely you are assuming the risk of maintenance, cap ex expenditures, and rising costs like insurance, taxes etc.

Many people buy in larger cities like this because the paper cash flow looks sweet, but the reality of it, across the board right now - good cash flow equals lower neighborhood class, more variable tenancies, and tons of hidden capital expenditures.

Expenditures incurred in the course of a general search for, or investigation of, an active trade or business in order to determine whether to enter a new business and which new business to enter (other than costs incurred to acquire capital assets that are used in the search or investigation) qualify as investigatory costs that are eligible for amortization as start-up expenditures under § 195.