Hi everyone, I just wanted to get some feedback on a pet policy I will be implementing for a rental property. 

Assuming no unforeseen expenses, Yearly cashflow=101,000Final CommentsI would have to implement very creative financing regardless of the final price.

The difference between the two treatments is whether or not you pay the 15% self-employment tax on your profit.Still, I side with Ashish in recommending professional help, as my suggestion needs a more detailed discussion before implementing, with a few pitfalls to address. 

So not sure if you're in any position to house-hack but that would be a great strategy to implement.

After about a year I implemented the program tenant cloud which reduced the calls to almost zero because my tenants can now pay online, sign their lease on line and submit maintenance request online.  

I mean, you need to worry and plan and implement steps and procedures, but there are things you should have in place before getting into the expenses of entities - do you have that many assets and cash flow to protect already and exhausted all the other steps?

Regretfully, I have never applied any systems of contact mgmt w crm/coi etc...Also have 50 units I own and manage as well as flips, wholesale etc etc...Does anyone know of a software to implement the sales business AND prop mgmt as I'm going to use mgmt software for my units but it would be nice to have 1 dashboard.Thanks

Definitely a lot of good points here that I have not yet implemented and should.Quick question: I bought a turnkey property in a neighborhood in the north part of the 64133 zip (Raytown), just south of I70 called Sterling Acres.

@Ryan KeenanThis is a strategy I am going to implement once the opportunity presents itself.

The 1031 will also let you defer capital gains.And if you daisychain 1031 exchanges, you can implement the strategy of "defer, defer and die" where you pay none of those taxes and when you die, your heirs inherit on a stepped up basis and don't pay taxes either.