I purchased that commercial property in 2021.Thanks for the insight on the tenant/landlord laws, I have a lot to learn on the property management side and will diving into all that very soon!

Money Mustache (Pete Adeney) is headquartered here in Longmont (across main from Longs Peak Pub) and there is a well-established FI community here. 

As @Stuart Udis said Point Breeze will being you the best tenants but it's an established market already so the appreciation is going to be minimal.

They do a lot to not only make sure you are able to follow through the process but to protect your interests throughout.

There is a lot to be said about living a simple life and no debt can allow that but for many lots of debt and action is the way to go.

• Establish company specifically for rental management.• Over the course of the year new company will be paid $5k for services from rental income.• Schedule C shows $5k (and payments are shown as expense on rental side.)• 15.9% of $5k paid for Self Employment (apx. $800.00)   (note this would be less than ordinary income paid otherwise, plus 50% of SE tax is a deduction.)• $4,200 contributed to solo traditional 401, then converted to Roth. 

I concur with everyone, best to check for medical emergency first in this case, after that's been established as NOT the case, definitely time to get yourself into the mix and remove that manager asap. 

@Shawn ChervinskisSee Section 408(b)(2) of ERISA for more information on this exemption.The office space or services are necessary for the establishment or operation of the plan;The contract or arrangement under which the office space or services are furnished is reasonable; andNo more than reasonbale compensation is paid for the office space or services.Regulations issued by the Department clarify the terms “necessary service” (29 CFR 2550.408b-2(b)),”reasonable contract or arrangement” (29 CFR 2550.408b-2(c)) and “reasonable compensation” (29 CFR 2550.408b-2(d) and 2550.408c-2) as used in section 408(b)(2).

Establishing the core 4 is what everyone says, and it is important to have boots on the ground near your properties to check in on things when needed. 

Many lenders typically establish their minimum loan sizes at around $100,000, encompassing both the initial loan amount for the purchase price and any needed rehab expenses.