I am a little shell shock from 1980s and older since things just break like my old 96' Honda Accord.Track Record & Past Performance:Evaluate the operator's past deals using third-party reports (e.g., CoStar, Yardi) - these cost 10-20k a year and again this is not in scope or access of LPs.Verify past performance metrics (walk past assets and secret shop their staff at assets) rather than relying solely on marketing materials.Visit comparable properties physically to validate rent assumptions.

I include written instructions for payment, reporting maintenance, and how the tenant can communicate with me.

@Jimmy Rojas A family member who failed to file taxes for many years reached out to the IRS and they assisted by providing his total reported annual income for over 7 years to make it easier for him to file back taxes (he couldn’t find his paperwork for most of it).

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

Your accountant will need to merge the two reports together at the end of the year for taxes, thus you should check how they want it input, so that it takes them less time and thus costs you less money.

The 2024 Baselane Real Estate Investor Survey reveals optimism among investors despite rising costs.

Due diligence (especially with more complicated transactions) often reveals conditions that are or were not available initially.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

They have excellent reporting features. 

Oftentimes tenants will call to report an issue i.e. mold thinking it'll save them from eviction which triggers an inspection and results in these violations.