While I agree that a good property manager is a must, as @Chris Clothier mentioned it's still imperative that you visit the property regularly to ensure that your interests are being looked after, and this alone eats considerably into your cash flow, not to mention your time and energy.

It's all subjective on a case by case basis.For instance one owner I know owns a multifamily complex of ranchers single story (over 100 units) on about 12 acres.Over the years retail commercial has built up all around it.The owner hasn't raised rents in 3 years.90% of the community is 55 and older even though it is not designated for that.The owner keeps it filled and does minor things to maintain it.Eventually it will probably be torn down and sold off for redevelopment.Knowing that it doesn't make sense to really over improve it and increase the rents.When buying a multifamily building you have to look at many factors and where it is located to determine what your plan will be.I like upping the rents slightly so that you get the increase but are still below market.As other shave said for someone to move and pay deposits and moving fees etc. they won't do it for a small amount.It's like a restaurant upping a burger 25 cents.You won't be happy about it but will deal with it.Up the burger at once by 1.00 and many might look for another place to eat.

In the past we've included water bills in our lot rent, as we don't have many tenants and it's just easier, but recently the small towns we are in have raised their water and sewer rates so high that it's eating us alive and we are looking into sub metering.

This tenant gets use of all these anemities.. 2nd fl. being a smaller unit 1 bedroom ideal for a single guy or girl or a couple at best.This works well for alot of reasons: The family on first fl. is looking for the comfort and feel of a single family which they are getting, 2nd fl. person is just looking for a place to eat/sleep/study etc...

I know this was the first meeting and repeat attendees can plan next time to eat dinner before, etc.

Therefore the 10th was the established rent due date, despite other written agreements.This should also work the other way around.So check your statutes, maybe consult an attorney (who will likely eat up anything you in in court...), and see what the rule book says if there is not written agreement.

Do not eat any food from China.

Hard money definitly imposes more risk and eat up a siginficant portion of the margin, but are necessary if you don't have enough cash.

As far as bookkeeping an excel spreadsheet with the same categories as the 1040-Schedule E. At

I'm sure it doesn't taste good and is definitely not the organic food that my family eats, but might be worth having in a pinch.