Don't expect someone else to do that work and certainly don't just depend on the who you gave your money to.Perhaps I read your case incorrectly.

Based on my plan requirement of location, positive month return, and house hacking strategy, this property came up but I am curious if the numbers add up or if I am considering this incorrectly. 

To me this feels like purchasing a car from someone, then the DMV all of a sudden says "Sorry, we were under charging the previous two owners the incorrect registration fees for the last few years, you now owe us thousands of dollars."

Also forgot to add, found out that my landlords had the incorrect insurance, only homeowners not landlord insurance. 

To me this feels like purchasing a car from someone, then the DMV all of a sudden says "Sorry, we were under charging the previous two owners the incorrect registration fees for the last few years, you now owe us thousands of dollars."

@Dan Wynn"Real estate guarantees a source of passive income" - Incorrect. 

That is incorrect; the only reason you cant get a conventional loan is if your self emplyment is so new that you don't have 2 years of tax returns.

You need (at least 40 or 50 sometimes in my case.) of individual “reasons” for income and expenses (property #1 rental income, #1 management expenses, #2 income, #2 management expense, #2 plumbing repair, #3 income, #3 management expense #3 landscaping expense #3 commission to realtor finding tenant, #4 income #4 management #4 landscaping…etc etc..) this will then either equal your deposit or have a last line that shows the amount you are out of balance where you missed an item or entered an incorrect amount.Doing this let’s you produce a report of any property’s  income or expense over any time period.

After clicking through the forums I couldn’t find one that really fit so I apologize if this is incorrect  Hello all!

@Dan MihaiDo you think you are doing some things incorrectly with your SDIRA?