The financials are not bad: Asking price is $485K.

While the repairs will temporarily affect rental operations, the long-term tax advantages from depreciation could help recover some of the initial financial outlay.In terms of negotiations, it would be wise to push for a larger price reduction instead of accepting a cashier's check, given the magnitude of the repairs and the expected loss of rental income during the downtime.

So, your tenant's financial situation remains stable. 

You can make more if you self manage, but that takes time to set up and there can be a learning curve that costs money.Our agents are well versed in providing full financial breakdowns of every property they look at.  

@Sean Conroy, this really depends on two things: first, the land zoned in a way that you can subdivide and build more units (question for building/zoning department) and second, financial returns on doing this versus using the capital to buy.New construction certainly has its advantages on the operating side, and can often get a premium to remodeled, older units.  

What financial or general advice would you give to someone just starting? 

I'm looking at the different property management platforms and wondering if there are any that people LOVE that does all the property management stuff but also does a good job tracking the financials? 

Government is nailing property managers to the wall in a bold move to control financial crimes.BOI is yet another Federal program, “Beneficial Ownership Information.”The BOI program, a key tool in the fight against financial crimes, requires every business to document it’s 'Beneficial Owners.’

I'm particularly passionate about cash flowing for financial independence and renovating with my construction experience.Outside of real estate, I enjoy fishing, ultimate frisbee, skiing.Excited to learn and connect with you all!

If you want financial freedom (leaving your W2), what you really want is time freedom and since you are single now, that is a lot cheaper than you might think.