Having the books properly set up for the first time ever will help me get all the deductions I’m entitled to.

There are pros and cons but i believe for most properties the cons out weight the pros.  

Saving $10 to miss out on proper data that leads you to a $40k deal is not worth it. 

While there could be avenues to acquire real estate creatively with less cash operating  real estate properly is capital intensive. 

Without taking a proper tour of the cabin and only driving by and seeing pictures of the inside.

It’s a good idea to work with a qualified intermediary and a tax advisor to ensure everything is structured properly and you’re clear on any tax implications.

I can have multiple one use code for contractors so I can control access without physically going there.You do not need to carry the key, just need to keep track all codesMain disadvantage is that the locking requires the door to close properly, otherwise the tenant may not know the door is not licked.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Of course our big motivation is commission but you can get commission or a referral fee or something in an off market transaction if done properly.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.