Depreciation is another powerful tool, allowing you to deduct a portion of your property’s value annually.Action Step: Keep detailed records of all expenses and consult a tax professional to ensure you’re claiming every deduction you’re entitled to.3.

Since you mentioned REI Hub, I worked with REI Hub in the past and they had the same connection issues but their CEO is usually good about making quick updates to create a better user experience.That being said, there is no perfect solution out there regarding bank feed connections so I'd go with one you know and ensure the accounts are linked on a weekly basis to be confident every transaction is flowing through without interruptions.

Make sure your real estate agent isn't just about closing that one deal but understands the benefit of protecting you on each purchase to ensure that you keep buying because you are enjoying success.  2.

This designation doesn’t cost extra or give the manager access to insurance payouts but ensures you and the property manager are aligned during incidents, such as tenant lawsuits or insurance claims.

Consult a CPA or real estate attorney to understand tax implications, build a reserve fund for unexpected costs, and research local regulations to ensure a smooth and profitable transition into rental property ownership.Good luck!

Focus on smaller single-family homes, condos with low HOA fees, or multi-family properties in these regions, and build a reliable local team of agents, property managers, and other professionals to ensure a smooth investing experience.

Yes, Oklahoma is a great market to consider, especially for multifamily properties:Affordability: Oklahoma City (OKC) and Tulsa have duplexes and small apartment buildings within a reasonable price range.Landlord-Friendly Laws: Makes property management less stressful.Stable Cash Flow: Properties in Oklahoma often meet or exceed the 1% rule, providing consistent rental income.Growing Economy: Both cities are seeing population and job growth, boosting demand for rentals.Tips for Getting Started:Do Your Homework: Use tools like BiggerPockets calculators to analyze deals and ensure cash flow.Focus on Neighborhoods: In OKC, check areas like Yukon, Edmond, or Midwest City.

To ensure you’re not overpaying, compare these quotes to typical rates in the area using resources like HomeAdvisor or Thumbtack, or by reaching out to local contractors for ballpark estimates.

I’m looking to ensure I structure things correctly and attract the right partners.

With the numbers you provided above, you will have to ensure you have healthy reserves.