It's amazing to see the next generation take an interest in building wealth and understanding the power of smart investments from such a young age.

I understand that a rental listing will not generate as much as a sale would, but I think a minimal standard should exist (especially since I plan to buy properties in the future).

To make sure the land/property generates some kind of income until then, we've tossed around land leasing for cattle or a glamping site.Advice needed:1.

Hi @Nitin Gove,I use QuickBooks for bookkeeping and generating monthly financials (Revenues, expenses, etc.).

I don't care what it might generate.

Regarding the first scenario, the sale of the rental properties should be generating 'passive income'.If you have passive losses in the current year or from a prior year, you should be able to offset it against the passive income.

House hacking is one of the most popular strategies you can take and it can be a great way to build wealth and generate passive income, but it's important to have a long-term plan in place.

The city offers relatively affordable property prices compared to many other major markets, which can be great for getting good value and generating positive cash flow.

He is working with several other operators to categorize transactions, reconcile accounts, manage late payment collections, pay vendors, generate end-of-month statements, P&L reporting, and other bookkeeping tasks.Nonetheless, happy to make an intro.

@Kevin L. buy a home that you can improve and add value, including turning the garage into an ADU.Also, take the ugliest room and rent out the rest to generate income to offset the mortgage payment or to accrue cash for improvements or additional investments.