Now, don’t get me wrong—I did accept the inspection report and signed the offer to purchase.

In addition they are slow to report minor leaks or at all as it doesn't typically impact them financially.Landlord paid utilities with multifamily can be a real cash flow killer if not handled efficiently.So most larger buildings I come across that are vintage almost everything is separated out except for the water.

We have a lack of whole sellers in BCS, so if you can find away to get a consistent flow of off market properties, there is money to be made in it.

You could consider house hacking to reduce out of pocket expenses.It’s definitely an appreciation play not a cash flow play but with the federal government here appreciation is consistent - you won’t get super high appreciation like some places but also don’t get high depreciation as well.

While they tend to offer lower returns than stocks or real estate, they provide stability and consistent income.Another potential avenue is health savings accounts (HSAs), which offer a triple tax benefit—contributions are tax-deductible, earnings grow tax-free, and withdrawals are tax-free if used for qualified medical expenses.

I know I will have to report the LLC’s profits but I’m confused as to how to handle the draws with respect to the IRS.

I will say in Upstate NY where all of my section 8 tenants are, if they dont pay their portion I report to their caseworker.

However, their portfolio is consistently growing and I am also starting to invest in the area.

Either way they should be licensed, contact the board and report them. 

The good thing about a collection agency is that it can report the judgment to all three credit reporting agencies.