To give you a bit of background, I know very little about bookkeeping beyond managing my budget for the last three decades (ugh), so this is all pretty new to me.Here’s my current setup:I’ve had a property management company using AppFolio to handle the heavy lifting – rent collection, owner distributions, expenses, and the whole shebang.

Martin @Diana Smith @Leigha Chew @Royce Anies  @Andrew Strauss Hi Carolyn, I'm just starting mewtups again in the bay and we're having a meetup on-site at a development project in Los Altos on Wed @ 6:30pm.

If this is going to be your first investment, it's important to budget for any necessary repairs or upgrades yourself to ensure a cushion or opt for a different strategy. 

All I did was look at a property, run the comps, and got a reno budget, So nothing to intense.

I would like to be as close to NYC as possible but want to stay within a tight budget.

The cashflow over the long term is by far a myth when you buy right and budget correctly. 

For example, build a buffer into your timeline and budget based on your previous experience with contractors, or seek out properties where the rehab is more cosmetic than structural to reduce the complexity. 

This is not bad but it will definitely take away from my budget to improve the interior of one unit that will be vacant this month in addition to installing a mini split system in each unit and possibly getting a new walkway and fence. 

My advice: Keep the pace on your first rehab and mind the budget.

Guests don’t know or care that your rehab went over budget.