Because instead of collecting one rent check per month, you’re collecting multiple payments from different tenants.

Because instead of collecting one rent check per month, you’re collecting multiple payments from different tenants.

Are some banks better for mortgages than others (in terms of down payment, interest rate, length of mortgage etc.)?

In addition to your down payment, plan for closing costs (around 2-5% of the purchase price) and set aside at least 3-6 months of expenses for repairs, maintenance, and vacancies.

And people think Ai is going to replace accountants.one can argue that apartments.com is just a processing the payment and not actually holding the funds to transfer out.If apartments.com all of a sudden reverses the payment for insufficient funds?

I finally understand that credit card payments are exempt from needing to send 1099's.

Digitize physical receipts for easy storage and use a consistent naming convention for easy sorting - 2024.03.25 Home Depot.- Maintain proper records, such as contracts, settlement statements, and promissory notes.- Additionally, you can track income and expenses consistently using software or spreadsheets.If you track everything, you could show a loss and use that to offset other earned income (such as a W2) which will net you a bigger refund.

Have you considered tapping into your existing rental equity for the down payment?

Ability to repay - can you as the borrower afford the payments based on the loan amount.Typically they will not take into consideration the mortgage on a new property that has not been taken out as that is new.

@Jordyn Ohsnot enough info to helpbut if you're using a HELOC for the down payment AND getting a loan, then you're probably negative cash flow given that's 100% leveragei would never do that unless i were going to refinance in the short term