There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

View report*This link comes directly from our calculators, based on information input by the member who posted.Hello All,Peter Piper here. 

The key factor is ensuring you have proper documentation to support all the transactions, deductions, and income reported.

(I would still get a heloc to cover future expenses and have available for emergencies.)401k loans are not taxed, do not report to credit, count as owned assets from your lender, and the interest you pay on them goes back into your own 401k!

Our property is consistently around 50% occupancy.

This team consists of an Investor Focused Agent, Lender, Contractor, and PM.Read this article on the "core 4".

Hire a local home inspector or contractor to assess the property and provide a detailed report.

The thing I consistently struggle with is art, especially big pieces.  

Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

Once this is all done, I'd also report the broker and both agents to the real estate board.