Now, think about the acceleration of technology and imagine 200 years into the future.

It's a 3 bedroom house and we plan to use technology such as a smart lock, WIFI exterior cameras, and a smart thermostat.

At the time, we were not thinking as investors and primarily focused on buying a modern, pretty property under $1M.

A strong partnership benefits both parties.Happy vendors are more likely to prioritize your jobs and provide high-quality service, benefiting both tenants and owners.Balancing Stakeholder NeedsBalancing these relationships requires a strategic approach:1.Standardized Processes: Implement systems that ensure consistency and efficiency in addressing maintenance requests, approvals, and payments.2.Transparency: Use technology, like owner and tenant portals, to provide real-time updates and visibility into ongoing issues.3.Regular Communication: Maintain open lines of communication with all stakeholders.

A more accurate way to describe it is "I received no income" - because you can have deals but still have no profit if your expenses are greater than your income.If you were actively looking for deals (and can document it) - as opposed to merely planning to start later - then you file Schedule C and claim business expanses such as marketing, driving, technology and so on. 

Hoping to place tenants on the first floor as close to move in as possible (1st floor unit is modern and doesn't need any work), then quickly make the repairs on the 1 bedroom unit to update and turn into a 2 bedroom and get that rented as soon as that is done.  

--- This includes requiring Housing Commissions to make better use of technology.

It is a duplex totaling 4 bds and 2.5 baths with modern updates, in great condition.

It is a duplex totaling 4 bds and 2.5 baths with modern updates, in great condition.

So most agents are only putting about half of that $12k in their pocket, and out of that $6k they have to cover all of their operating expenses: licensing fees, MLS/ Realtor Association fees, continuing education classes to stay compliant with licensing requirements, monthly "desk" fees/ technology fees to their brokerage, health insurance for themselves and their family, errors and omissions insurance (required), marketing, car, car insurance, gas, clothes, computer/ software, cell phone, closing gifts, signs, photography, staging if they offer that, etc.