There is much to learn: pricing, marketing, screening, contract law, lease enforcement, late/unpaid rent, property abandonment, squatters, maintenance, tenant neglect or abuse, communication, and 417 other things.Buying a decent property but not managing it well can impact your finances, marriage, sanity, physical health, and desire to invest.

I got a very good price on the building (about $25k per door), but it was a ton of work as in addition to tenant issues, there was TONS of physical distress (foundation repairs, sewer line and water line repairs, electrical upgrades, new roof, and apartment renovations needed for all units). 

Call me old fashioned, but real estate is an income producing physical asset.

We did have confusion regarding where the physical, blank checks would be sent to, but it all worked out.

The 3rd thing that has reshaped my entire opinion of the tax advantages of real estate, is seeing my 88 grandfather holding five quite valuable illiquid properties, long story short it’s a mess, it’s causing family drama, he is in zero shape physically or mentally to manage them, the all have cap-ex needs, again these were amazing buy’s literally multiple properties he bought for under 50k that are now worth over a million but there is probably a time and a place for owning real estate, so I don’t really have a need to own more than maybe a few properties into retirement.

I wrote this posts about 20 times about a girl who ran away from her home in Japan because her parents were physically abusive.

That alone could ruin the outlook for you, so just make real sure of the physical condition of the property.

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.As you scale, if bookkeeping isn't fun, consider hiring a bookkeeper for a couple hundred bucks per month.

Physical inspections can reveal a lot about the condition of the property.

I don't care what the currency is because I own physical assets with intrinsic value.