Deductible expenses include renovation costs, loan interest, and holding costs.

Account for all costs, including closing fees, holding costs, and repairs.

Managing a property can be incredibly rewarding, but it does come with its fair share of challenges—especially with the recent shifts in Rhode Island legislation.In 2024 alone, 39 bills were introduced, and seven significant ones passed, including extended rental terms, mandatory fee disclosures, and other updates that every landlord should have on their radar.

You must be pretty good friends - most veterans (including myself) would never let a non-veteran assume their loan b/c the VA loan entitlement is not restored until that loan is paid off.  

Combine that with America’s housing shortage, and the solution becomes clear:We need to build more homes that align with what buyers can afford.

That feature is so basic I never would have thought to even ask first if it was included.  

@Evan Polaski I don't include any fees, not even an acquisition fee or ongoing asset management fee.

My aunt wants to do 50/50 on everything including rent.

@Bryan Stengel, I think alcohol has been the tough one with the STRs, not sure about if you need license( hopefully someone will chip in ) , however there  always the liability part including but not limited to offering alcohol to people who are trying to quit etc.

Include all expenses like property taxes, insurance, maintenance, and property management fees if you’re not managing it yourself.Network Like Crazy: You’ve already made a great first step by joining this group!