These small conveniences can save you time and money in the long run.For rent collection, you can try Rent.app, which is easy for tenants to use and keeps everything streamlined.

The only purpose of the account would be to collect payments and pay bills like taxes and insurance on assets held by the LLC.

Bee Setups again threatened they were going to move forward with collections.

Quote from @Amanda Henry: We are attempting to collect a $572,379.35 judgment against Chau Ong for investment fraud in Texas. 

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Unlike CPAs, EAs focus on tax matters and can represent clients before the IRS in audits, collections, and appeals.

Good luck  Total Rents Collected: $23,025/mo Debt Service: $12,358/mo (sad for me. 8% interest rates lol) Property Management 10%: $2,303/moReserves (Vacancy 5%, Maintenance 10%): $3,454/moPhantom Cash Flow: $8,365/moTrue Cash Flow: $4,911/mo (Money I can legit burn)  bob as you probably know I owned a few hundred of these types of homes from DetroitCleveland to Jackson ms  Birmingham balt city etc etc.  

@Charles Perkins is absolutely correct about "collecting all receipts, properly tracking all income and expenses and your basis for all assets properly documented and recorded."

.✅ More Control – You’ll personally handle tenant screening, rent collection, and property upkeep, ensuring everything is done to your standards.✅ Stronger Tenant Relationships – Being involved directly allows you to build rapport with your tenants, which can lead to better communication and longer leases.Cons of Self-Managing❌ Time-Consuming – Dealing with maintenance requests, late-night emergencies, and tenant disputes can quickly become a second job.❌ Legal Risks – Chicago has strict landlord-tenant laws.

Almost every action taken in the economy is taxed and the faster the economy chugs forward the more taxes they collect.