My career has been centered around helping businesses scale through strategic sales initiatives, but I’m now channeling that same drive into real estate investing to build long-term wealth.My wife and I are in our early 40s, both work full-time, and are raising four amazing kids.

Two parents and 4 kids seems reasonable, but my houses are really tight with more than 8 people milling about. 

Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.

Tenant(s) name(s) and contact information, start/end of lease, rent rate, pets, kids, etc.Create a section for tracking rent charges and payments.

Similar to having kids that could do something stupid and have that come back on me.

Does this renter have kids that are in school?

Hello, I just upgraded to PRO. Deciding between STR and LTR. STR seems to have better tax benefits (in the right market) but is it worth it at a distance ???

I became a realtor, what I would love to do is move to a place like Mexico but I have kids still in school. 

I've held onto it mostly because of the appreciation and great tenant.My main goal with RE is using it as a store of wealth and passing it onto my kids.  

You could do $5500/yr. into your Roth ($6500 over 50)...if you still qualify, and have a bit left over.