The best way to estimate expenses is experience and knowledge of your specific asset type and market.For vacancy, that will depend on your market and the quality/desirability of your type of unit.

If you're talking about asset management software, you can take a look at this.

While PM itself won’t create significant wealth, it opens doors: when clients sell, you list the properties; when investors buy, you manage and maintain their assets.

My kids went through this around the same age and still have an interest.Teach him financial literacy and include him in what you are normally doing.

You can grow a business into a sellable asset, but anyone who has ever sold a business will tell you that is not easy and takes a long time.

I'm trying to decide the smart investment decision - continue renting it out at a lower rental rate OR selling it and trying to find a potentially better performing asset to re-invest those funds in.  

and offer up question and answer support for anyone interested in investing in residential assisted living, actively, passively, or somewhere in between.Over my real estate journey I’ve tried a lot of different asset classes and finally landed on residential assisted living as my favorite real estate niche and perhaps the most incredible growth opportunity for the next few decades due to demographics and how that will drive demand to keep outpacing supply.

I completely agree with the advice and I'm perfectly okay with not charging him rent.My concern is that by treating this property differently from all the other units in the Series LLC, I may be opening myself up to a situation where I'm weakening my LLC protections even if I keep the financials separate and in order.

I've done this with my properties because I'm well known in my small town and don't want people to know what I own.LEGAL PROTECTION: By placing your assets in an LLC, you are legally separating them from your personal assets.

And it will be a big asset when building credible relationships.