The other school of thought is to hire an experienced property manager on a contract basis, typically 3-5% of the gross receipts of the property, and let them take care of the day to day while you (the asset manager) are reviewing reports, setting and tracking budgets, and doing the overall planning for the property.

In fact, gross rent (before expenses) aren't usually $2000 on such a property....that would be rent equal to 4% of the purchase price....however, that'd be a screaming deal if the numbers shake out.

Recent article in Dallas business journal states Dallas is among the worst markets for flipping at a paltry 29% gross return on investment for the past quarter.

All in for low 30 thousands pulls in around 1150 a month in gross rent.

Generally, as a resident of a state, you must pay income tax on all of your gross income, no matter the source. 

Actually, that extra 800 is post-addition of a bedroom I realize- its now a gross rent of about 6000, which I still think is workable.

As long as your income is less than 150k -for example if you make 50k at work and 50 k from rental income 100k gross earnings from the year you could subtract 1/27.5 years of depreciation let’s call it 50k and 30k of interest and tax so your tax able income would be 100k-80k=20k taxable income-how would being a real estate professional help me making under 150k Would appreciate any help or resources you could refer me to

Out of that $120k gross income, $50k was eaten up by expenses, leaving $70k NOI.

That will help you find out what your vacancy should be at and what they actually gross rental income are.

One 2 Bd apt. and two houses, 5 bed's each.Financing Approach:80% Bank20% 10% down payment10% seller financing - terms to be negotiatedAnnual Financials:-5% vacancy (the market is emerging and vacancy is very low - we know this because we own a 4-unit in the same area, purchased from the same seller)-Rent roll: $55,800 - can be pushed up by $4,800 conservatively after rehabbing-Property Taxes: $4,277 -Insurance: $1,619-Maintenance / Capex: $11,160 (projected - 20% of rents)-Water / Sewer / Utilities: $6,200-Property Management: $3,600 In summary:At purchase:-$55,800 gross income-$21,903 total expensesPro-forma:-$60,600 gross income-$22,529 total expenses We want to get your thoughts on this deal.