Also, it’s best practice to consider areas with population growth and job creation- they typically offer stable returns.

Checking online reviews and ratings can also provide insight into the reliability and quality of a handyman's work.

A spreadsheet has its place in your daily operations and tracking efforts, but I highly recommend starting with a software like QuickBooks Online to track your expenses in a more formalized manner.

I won't be ready to buy an investment property for another year or so, so in the meantime, I'm practicing my researching skills as much as possible.Thanks,Chris

She has a great online portal for uploading documents and is happy to help with specific questions.

If the existing renters are month to month, are there any best practices to recommend when acquiring/closing on the deal?

That is predatory and not good business practice but some banks think they can get away with it especially with new investors.

Hey @Trenton Pelloquin, we use QuickBooks Online exclusively for all of our REI Clients (including buy-and-hold Clients).

Check out other online guides available here: https://www.biggerpockets.com/guides3.

Check out other online guides available here: https://www.biggerpockets.com/guides3.