This is a very common issue in parts of Milwaukee and I have done lots of basement reinforcing on our rentals.

I imagine there’s a different dynamic with tenants sharing common spaces, so I’d love to get your insights on how to manage this aspect effectively.Thanks for sharing your experience, looking forward to learning more!

I don't expect to know everything by then, but I hope to develop a basic strategy that prevents me from making the most common and costly mistakes that a newbie can make.

Some went through the process of signing the NDA, providing proof of funds, and having multiple conversations, only to end up ghosting me.I think what a lot of this comes down to is that many people start looking for a business before they’ve figured out for themselves what it is they really want, and what they can actually execute on.Here are a couple of the common misconceptions I encountered from buyers:🚫 You can close on multiple acquisitions within a year.Sure, it can be done.

This way you can utilize the leverage if you plan to scale up in the future.

Is a shared bathroom common or should we add more?

@Jason Tucker  you need to add in your utilities, common area cleaning, and turnover costs to determine if it makes sense. 

Adding the current mortgage and utilities would be roughly $1,350 resulting in a profit of $650/mo.

Common deductible expenses include mortgage interest, property management fees, repairs, and even travel expenses related to property management.

It's just common sense, but not really scalable as a business of its own IMO.   1.)