Quote from @Gregory Wilson:As for the second, there are only about 20 monetary numbers to be entered in Turbo Tax on a single unit rental property 1065 so it always seems to me that the $3500 would be better spent elsewhere.

Real wealth is built over time with consistent effort, even when things are difficult.Increase earnings, reduce expenses, save, invest.

I hear this even in popular podcasts like Thanks for Visiting where they recently have been interviewing very seasoned, successful MTR hosts and keep asking 'but what about the risk of squatters??'

We own several single and multi-family rental properties; however, financial analysis and spreadsheets are not my strength.

.- You’re still responsible for a $500 gap each month.Add in maintenance, unexpected expenses, and vacancies, and your costs can climb even higher.

Sure, like evening college. 

I'm considering buying a small single family home near a hospital in the Midwest to turn into a MTR, and trying to decide if it's worth the investment to furnish vs. going straight to LTR.

With enough space, this could mean up to 4 units on a single property.

All you need is a single place to track tenant information, payment history, maintenance, and a few other things.

I look at every single review on here to make sure our owners feel like we are living up to the expectations we set in the beginning.