That means you will report the activity on your personal return (if this is rental real estate is will be on your schedule E).In most instances, rental property is setup as a partnership.   

E) IF your tenant doesn't pay rent or is late, then refer to your lease and follow through on what the lease says. 

@Ryan E.

Local highschooler who likes to B & E.

So based off this calculation I determined that my portfolio is strong enough to move on with my expansion plan into a new market.Business expenses as % of total expenses : 70%   1) Fixed Expenses:        a)Monthly Mortgages: 45% b)Property Taxes: 18.7%c)Utilities Expenses: 14.8% d)Licenses & Insurance:  5.4% 2) Variable expense - Water bills + repair expense : 16%  Personal Expense as % of total expenses: 30% My monthly living expensesa)Housing: 39.7% b)Child Care: 25.4%c)Living expense: 22.2% d) Food: 7.9 %e) Insurance: 4.8Income 1) Total Income - 100%  A) Rental Income: 42%  B) Wage income (W-2) : 26 %  C) House Flipping Revenue: 23%  D) Property Management Revenue: 5%  E) Stocks/Dividends: 4% Please let me know if you would like help walking through this process as it has been super helpful to understand my financial situation or send you the spread sheet I used.  

A few recommendations:- "E-Myth Revisited" by Michael Gerber (this will have you working on your business instead of in your business)- "Rich Dad, Poor Dad" by Robert Kiyosaki and Sharon Lechter (this provides a more foundational perspective on money)- "Cashflow Quadrant" by Robert Kiyosaki (further builds on the "Rich Dad, Poor Dad" foundation)- "Set for Life" by Scott Trench- "Long-Distance Real Estate Investing" by David Greene- "The Book on Managing Rental Properties' by Brandon Turner and Heather Turner- "The Miracle Morning" by Hal Elrod-"HOLD" by Gary Keller (geared toward SFR)-"The ABCs of Real Estate Investing" by Ken McElroy (geared toward commercial investing)"Multi-Family Millions" by David Lyndahl (This is on my list of "To-Reads".

They are pretty aggressive with their marketing - as soon as I signed up for a free account, I started getting e-mails about once a day telling me how much value I could get from a premium membership.

It depends on a lot of factors:If you are enlisting in the military, your salary will be quite low for the first few years as an E-1, E-2 , E-3  - which can make buying a home or investment property somewhat difficult.Depending on which branch of the military, and which career path you intend to pursue, you may only be at your duty stations for a few months to a couple of years, especially early on when you are vying to get into training for your occupational specialty. 

I believe Expense because i was repairing the unit with the exact same thing it had when it broke.I am using Quicken to keep up with all the records and am trying to track these as tax items. 1) how do i track these "Schedule E/C" 2) when i have to drive, eat, and other stuff how is that tracked?

Also, I found this page that give you a guideline as to what should be included: https://revnyou.com/ultimate-guide-creating-real-e...