It is their passion, make very good money, which allows them to easily qualify for loans going forward.I will say that networking in college is extremely important.

There are critical items such as -Plumbing, HVAC, electrical items, roof repairs, appliance repairs- that you want extremely competent professionals to handle to ensure that you the PM and owner avoid liability and to ensure you aren't shelling money out again for the same issue because you were being cheap the first time.  

In the meantime, the situation is extremely frustrating for many LPs who, like yourself, seem to be losing a lot of money, while supporting the apparently lavish instagram lifestyles flaunted by many sponsors who brag about how their time is worth a bajillion dollars an hour and fly private to exotic locations.

 I’ll also add that there are some instances where just making additional payments to pay down principle could trigger the due in full clause.

Each LLC can have a separate agreement, but the IRS will scrutinize this, so keep everything above board to avoid issues.Tax Implications: This arrangement could allow you to shift income and claim home office deductions, but it needs to be done carefully to avoid triggering any red flags with the IRS.Renting a Car to Your LLCs:Renting your car to your LLCs can also offer some tax benefits, such as shifting income and potentially deducting expenses like mileage and depreciation.

Its location at the end of the metro line makes it extremely accessible, and I wouldn't be surprised if down the line there are future expansion plans that direction.

This can be an extremely time-consuming and frustrating process but needs to get done.Borrower Calls – Once the servicer finds your borrower, they’ll make scheduled collection calls notating what transpired and what actions need to be taken.Collection Letters – A variety of collection letters are mailed out based on the delinquency of the borrower.Borrower Statements – Print and mail out monthly borrower statements.Incoming Funds from Borrowers– Any incoming funds from the borrowers will be received, recorded, and distributed to the investor, less the servicer’s fees.Year-End Tax Information – At the end of the year, the servicing company will print out all eligible borrowers who have made interest payments greater than $600.

Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

It has always been a dream for me to own but I am scared to pull the trigger. 

Congrats on your success, that's absolutely amazing and extremely unique, especially spending college nights working on your properties!