I would get rid of that immediately.Second, I would ensure your rules are clear, in writing, attached to the lease, and posted in locations where the occupants can't possibly miss them.

Have them on standby to step in and get the process going to rent it properly.

We've found it has superior reporting features, integration features, and is overall more efficient to work within than other REI-specific software.The downside is QBO is not set up for REI so you'll need to do that or work with an expert to ensure it is set up for your business appropriately.

Proper setup from the start can prevent major issues and ensure you're profiting from the start!

If you’re close to $150,000 in AGI, a few ways you can bring that down AGI is by maxing out a 401k traditional ($23k for 2024 tax year), maxing out your HSA ($4,150 for 2024 tax year), and if you have any capital losses from stocks (up to $3k per year), I would encourage you to have great bookkeeping to ensure you’re capturing all of your deductions appropriately on your rental property.

Work directly with on-site Construction Project Manager to insure project construction is per plans and specifications from start to finishProvide supervision of sub-contractors on project siteAssist to ensure construction activities move according to pre-determined scheduleCommunicate effectively with SubcontractorsDaily inspections and presence on project siteIdentify any project design and construction issues and bring to management team.Oversee and report progress of project against project plan scheduleCoordination with Construction Project Manager, all necessary work flow schedules and monitoring of same to insure all deadlines are metInform Management Team of work progress and of all significant matters relating to the projectDevelop strategies to promote efficient and cost-effective work practicesAbility to step into and perform duties on an existing under construction multi-family project.Recommendations will be required.Thank you,Anat

If the daughter is not on the lease, ensure you have signed papers from the mother herself if they move out early.Almost zero chance they will pay rent again.

My systems are ok, rather I have to give credit to the individuals I work with as well as proper tenant screening.

Consult a tax professional for personalized guidance to ensure you maximize your deductions.

Just like any real estate investing, there is always risks but we are well trained in the community on how to ensure we are protected (including the right paperwork).