Bottom line: the tenant doesn't get to decide how to pay you.

Most people really don't understand this fact (myself include prior to moving here) and it can trip you up if you don't have reliable "boots on the ground" or a thorough understanding of neighborhoods and blocks.

We will be paying nearly $50,000/year in property insurance.

Also, make sure you have a great property management company who can be your "boots on the ground".

As an out of state investor, am looking to work with wholesalers, agent or bird dog who can walk the ground .

For example if you think the house is worth 200K fixed up you need to pay 100K to afford the hard money loan and rehab budget and still have a profit.

I have never been disappointed and have actually thought he pays an extreme amount of attention to my needs for the price he charges.

I pay about $2500 a year for each of my partnership returns with my CPA regardless of whether it’s a $1M deal or a $5M deal.I would save the partnership conversation for if and when you are doing much bigger deals.

. $1300/month, tenant pays all utilities. 4 bedroom one is vacant.

We generally advise our clients to go ahead and pay the recapture rates if death is the alternative.The good news about recapture - the deductions are a deferred tax liability to you, and an interest free loan from the government.