After checking the online portal, I see the current balance is over $3,100, and the water was shut off two days ago.

Bookkeeping when it comes to real estate investments can get tricky.I often find the following mistakes occur1) They fully write off the mortgage payment when in reality the mortgage payment is broken down into Interest, principal paydown and an increase into the escrow account.2) If the property is managed by a PM company, do not factor in the PM Statement3) do not calculate depreciation expenseBest of luck in your search for a proper bookkeper.

If they are being properly run they are making enough to pay you over market rent.

The idea of my thread is to share my experience and check if I can get advice and emotional support from like minded individuals but unfortunately the post was not properly understood and only people who are either PMCs or associated with one have answered.

Understanding how to source and underwrite deals is essential to BRRRR properly.

By year 10, you’ll have a combination of growing cash flow, appreciation, and equity that could boost your wealth by several hundred thousand dollars.Consistent investing and proper management can lead to solid passive income and long-term wealth.

I absolutely collected first, last and security for my class-C rentals until NYS prohibited that practice back in 2019.Many tenants cannot manage their money properly, so this mitigates the issue of not being paid last month's rent when they need to move and the new landlord is receiving those funds they have allocated for their housing during the last month of their stay.This was also helpful to me to pre-screen who has their financial house in order and had saved for their moving costs as part of their planning.If I still could, I most definitely would - without exception.

Balance is key.  

The mortgage balance is currently ~$475,000 and estimated market value is $715,000.

It is a hassle of course to log into each account to check on transactions, balance etc.