Digitize physical receipts for easy storage and use a consistent naming convention for easy sorting - 2024.03.25 Home Depot.Maintain proper records, such as contracts, settlement statements, and promissory notes.Additionally, you can track income and expenses consistently using software or spreadsheets.As you scale, if bookkeeping isn't fun, consider hiring a bookkeeper for a couple hundred bucks per month.

One of my attorneys just sent me a bill reminder a couple of weeks ago for a fee I had already paid back in June/July, which never went through, and that I sent again in August. 

I am planning to build a business to replace my income in couple of years so as to have monthly cash flow equal to my W2 income.

Capex and tenant issues tend to exceed cash flow and when you decide to exit after a couple of painful years, you are in for another surprise:It is shockingly hard to sell cheap homes! 

A suggestion I would give you is to find a couple "for rent" signs in your local market, get the address and start "running your numbers" on the rental property calculator that BP has for us on here.

@Bill B.Here are a couple more things to think about.

When it comes to section 8, I’m not married to this being my only option.

Historically, properties have appreciated more in A locations, but the cash-flow is nonexistent in the first couple of years whereas C locations cash-flow day 1. 

There are a couple of lenders that'll go to 80% which would be better, but still wouldn't give you anything to work with as far as paying down property B.

These days, a couple of things seem to be affecting how and where college age students are attending classes.