Also, with conversions, even if the municpality does not require MEP drawings, I highly recomend spending the money to have an engineer prepare them.

I'm getting concerned because I know from all my BP reading/learning that expected PM rates vary from 5%-10%, so I was preparing to pay on the upper end of that to make sure I find a "Rock Star" PM (as BP books would emphasize doing).

You should be prepared to have your unit pass a section 8 inspection.

I’m not preparing for a marathon or nothing like that but I’m starting to think more about health. 

So, be prepared for a more rigorous selling process with less room for concessions.Certainly, there are numerous benefits to house hacking a MFH property that outshine SFH.

As long as the total income reported on your tax return matches or exceeds the total income reported on your 1099s, and you have documentation supporting the breakdown of income by property, the risk of audit or inquiry may be relatively low.Pros of the approach:Compliance: Helps ensure compliance with IRS reporting requirements by matching the total 1099 income on the tax return.Risk mitigation: Reduces the risk of IRS flags or inquiries related to unreported income.Cons of the approach:Complexity: Requires additional documentation and statements to reconcile the reported income with the 1099s, potentially adding complexity to the tax return.Time and cost: The additional work required to prepare separate statements for each property may result in higher accounting fees.Ultimately, it's essential to weigh the pros and cons and consider the specific circumstances of your situation.

It’s also wise to discuss and prepare for all potential scenarios in a business partnership, including exit strategies.Communication: Keep potential and current investors informed with regular updates about the market, specific investment opportunities, and your overall business progress.

I took the plunge and handed over my credit card and prepared to start moving funds over to their cash management accounts.Right away, I ran into problems.First, the don't use Plaid, the industry standard bank account importing vendor, to sync bank accounts for transactions (somewhat confusingly, they do use plaid to verify ACH transactions, but you have to go through a different platform to get there).

Hard to comment on timing --- I would prepare for at least six months.

I know I'm prepared to handle a potential bad tenant situation, so if a seller will pay me (price reduction) to take on that work/risk, then that is gravy for me. 2.