Here’s my two cents:Paying off the condo might make sense if your main goal is to reduce risk and enjoy the peace of mind that comes with no mortgage.

Yet, many investors overlook simple strategies that can significantly reduce their tax liability.

You start with a purchase and sale agreement and reduce everything to writing.

We converted to a self-service model a few months after we took over, which has substantially reduced the workload. 

Property management fees and software subscriptions are deductible, and depreciation reduces taxable rental income.This post does not create a CPA-Client relationship.

, reducing your housing costs.Potentially higher cash flow.Cons:More intensive management (two tenants, two leases).Can be harder to finance than single-family homes.May not appreciate as quickly in some markets.Here's where I need YOUR input!

Here are a few strategies to consider for funding a down payment:Partnering: Like Gregory mentioned, finding a partner who can contribute to the down payment in exchange for equity or a profit share is a solid option.HELOC or Cash-Out Refi: If you have equity in your home or another property, a home equity line of credit (HELOC) or cash-out refinance can provide the funds you need.Private Money: Reach out to friends, family, or private investors who may be interested in lending you the down payment with a promissory note.Seller Second: In some cases, the seller might agree to finance a portion of the down payment as a second mortgage.Live Frugally and Save: It takes time, but reducing expenses and setting aside funds from your income is a tried-and-true method.The right approach depends on your situation and deal structure, but a mix of creativity and resourcefulness can go a long way.

This reduces exit options and affects the value. 10) Small number of small units is the most expensive residential development there is.

While it might feel like an extra charge to tenants, these packages often provide value that indirectly benefits the property owner as well—like reduced maintenance calls or ensuring the property is better protected.In my experience managing a large portfolio of properties, these fees are becoming more common due to the thin margins in property management.

We helped her move to PA from FL, provided a furnished apartment at a reduced rate for a while, etc.