Tenants may complain about your method of calculating how much each unit pays.

If you consistently analyze properties, recognizing a good deal will be much easier when it shows up.

We bought a single family up here last year and converted a garage to an ADU, which rented out really quickly to a great young couple.

I'm looking for referrals for a custodian, tax attorney, and a CPA to set one up and advise me.

I want them to know up front what I do, what I make, and why I have to have a "lower than retail" price.  

Why give up a couple percent?

All in all though whichever method you choose congratulations on the steps towards financial freedom!

Also, bookkeeping needs to be set up. 

The only two ways to rectify this are (1) purchase the property far below market price or (2) significantly increase the property net income usually through some method of “repositioning”. 

Unfortunately, while there are other methods to acquire investment properties, the reality is you need cash and reserves to plan and set up your investment portfolio accordingly.