“Mitchel, you’re setting yourself up for success early—props to you for diving into multifamily while balancing school, baseball, and your upcoming career with EY.

I started my career with the renovations team renovating the houses we buy, and with the property management company working with our residents and our maintenance teams.

I've been a licensed agent here in Maine at the Augusta-based Pouliot Real Estate for the last 2 years, but began my real estate career in Savannah, Georgia (my GA license is currently inactive).

While Airdna estimated annual revenue at around $45K, I earned $90K last year.Follow these three steps to build a solid foundation before calculating your mortgage and expenses.

When you draw from the equity, you are "borrowing" it from the bank and have to pay interest.If you borrow against the equity at 7% interest and then loan it out at 15% interest, you are earning a positive 8%. 

To go a bit further into what Dmitriy mentioned, since your IRA earns the income the tax treatment is specific to your IRA.

However, on my tax returns, I dont break down the income by property or specify how much each one generates, just that my LLC earns revenue from management. 

I take a picture of their driver's license.I ask for phone numbers that accept texts and any alternate land or business phone numbers.I ask for the names and birth dates of anyone under 18, and ask if there are any service / emotional support animals, together with their names and breeds.I also ask for personal references, previous landlord contact info (and length of time there), employer contact info (and how long there, together with earnings), as well as the name and contact information for their manager / boss.

Every change in operating income is multiplied by the earnings multiplier for that asset class. 

If you tie the bonus to early renewals, a bad employee will renew bad tenants just to earn a quick buck.