Centralize your back office / use remote employees / VA where appropriate to cut costs and improve service levels / responsiveness.  5.

@Janine Sharma The decision to classify your onsite mobile home park property manager as a W-2 employee or a 1099 contractor depends on the degree of control you have over their work.

It has been a rewarding journey and the transition from salaried employee to 100% commission was scary but has been rewarding and I have been able to surpass my highest W@ in coaching with my new role. 

As of October 2024, 75% of remote work employees now have some sort of in-person work requirement, up from 63% in 2023 (Source).

These laws have been tested in court and upheld because they do not discriminate against protected classes.Familial status in Fair Housing pertains to the presence of children (pregnant women, people with children, adoptive or foster parents).

We have about 22 full-time W2 employees in the office, approximately 40 traveling construction folks -- and managers and maintenance W2 employees at each community we own and operate.

If you are self-employed with no full-time employees you may wish to consider opening a Solo 401k instead of a self-directed IRA as it has several advantages over an IRA LLC such as much higher contribution limits, direct checkbook control (i.e. no need to have the account at a speciality trust company), ability to take a 401k loan, exclusion from unrelated debt finance income tax with respect to investment in real estate acquired with non-recourse financing, etc.Can I contribute to both a Solo 401k and SDIRA?

Simplified ManagementFor those managing multiple properties, AB 2622 streamlines operations by expanding your hiring pool and removing the red tape often associated with minor repairs.Why It Matters for TenantsTenants also benefit from AB 2622:Faster Maintenance: Minor issues like plumbing or lighting can now be resolved promptly.Fairer Move-Out Costs: Affordable repairs mean tenants aren’t hit with inflated charges for damage beyond normal wear and tear.Things to Keep in MindWhile AB 2622 makes maintenance easier, landlords should still vet unlicensed workers carefully, ensure proper insurance coverage, and remember that jobs requiring permits must involve licensed contractors.AB 2622: A Win-Win for California’s Rental MarketAB 2622 strikes a balance between flexibility and accountability, making it easier for landlords to maintain high-quality rentals while fostering better tenant relationships.

For example we pay our own income taxes, broker splits and all of our other expenses directly out of what we make including required E&O insurance, MLS dues, licensing fees, Board of Realtor dues, continuing education costs, marketing, advertising, office fees/rent, transaction coordinator/ assistant fees, health insurance, car insurance and maintenance, gas, tires, software, retirement fund, etc.We are not W2 employees with payroll taxes already taken out of our paychecks, company-paid health insurance and matching retirement account plus a guarantee of at least 40 hours paid work per week, sick pay, paid vacation… none of that.So if you’re thinking you’ll be able to pay an hourly wage typical of a W2 hourly employee like $50-85/hr… that’s definitely not going to work.

@Dave Foster is a great resource on 1031 exchanges.