It’s astounding how many fake documents are circulating today—you can find everything from fake references and stolen Social Security numbers to falsified income documents.To combat this, we rely on tools like Plaid, Verifast, and Snappt, which are excellent for verifying financial information and detecting fraudulent activity.

Your contractors, staff, and the financial markets will create challenges. 

Quote from @Josh Lansberry: You will hear a lot of people bad-mouth him, but Dave Ramsey can teach you how to get financially savvy real quick.

(Your $12k down and your new $24k debt.)The “trick” in regards to less than 10% down is people think they bought and asset or have equity.

Those that own it can be harder to sell as the cash flow from the business will cover the debt service for the business, but not for the real estate.Example: I had a very high-end assisted living facility on the market. 

Focus on having a budget and having a strong financial base Thanks!

We have allowed tenants to resolve past due debts or provide letters from previous apartment complexes confirming that damages or unpaid rent were not their responsibility.

Audited financials not being submitted2.

Thank you Eric.In addition to the rental properties, my wife and I have a paid off house, paid off car, and about $1.4m in retirement accounts, brokerages, and savings.We live in a HCOL area and our expenses are $9.5k per month even though we live pretty modestly.I set out initially to have real estate pay for at least some of my expenses in order to give me more freedom and financial security.Is your wife quitting too? 

An accountant is a general job title that may potentially do one of many different tasks(bookkeeping, reviewing financials, assurance, taxation, etc)Bookkeepers are specific that they will likely only do the bookkeeping.