Hey BP Community,We all love the thrill of acquiring new properties, expanding our portfolios, and watching our net worth grow.

They apparently help you screen for a property, acquire a corporate lease, and design the airbnb rental.

I created an electronic google doc time tracker: Time LogContemporaneous time log of rental real estate activitiesActivity DescriptionTenant recruitmentTenant screeningNegotiating and executing leasesOverseeing repairs and maintenanceCommunications with tenants and vendorsTravel timeResearch for potential rental real estate (pub 925)Acquiring rental real estate (pub 925)Paperwork/bookkeeping/bankingResearch and purchase of materialsRent collectionEvictionOn-site cleaningBill paymentOther:Time SpentDateMM/DD/YYYYSubmit

Acquiring pre-existing rental portfolios?

I'm a 26 year old from Long Island hoping to acquire my first rental property by the end of the year.

I myself am in a similar position looking to acquire a secondary home in the Banner Elk and would plan on using as a STR and would love any input on your findings!!

It assumes the property is Class A - which not a lot of investors are acquiring these days.Here's some copy & paste info about property classes:_____________________________________________________________________________Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

He also said he'd help me acquire large multifamily, but then had never even heard of Crexi, or Loopnet and had never owned anything larger than a duplex. 

Just outline expectations and roles, and what each of you guys are going to do, and how properties will be acquired and how they will be disposed of, and how and when money will be taken out of the company and you should be good.

Is acquiring a new primary residence and renting your current home feasible?