To answer your question, Accounting when you have a PM Company in place is tricky because your bank statement may only show a payment of $800 but in reality that may be the result of $1,000 of gross rents less $100 in PM Fees and $100 in repairs made on your behalf.Best of luck.

Their guests do this all the time to save on AirBNB fees and book directly.

And don’t forget that your legal bills, process server fees, etc are higher.But even after the expenses and the higher maintenance, the reward of the much higher NOI is there to be earned.

Many colleagues I've spoken to start at $1,200+ and I've learned the hard way, you get what you paid for.Unless you have a tax background I would not recommend tackling these returns yourself given all you're doing and if you plan to add more partnerships in the future it's even more important you work with a tax professional you know, like, and trust.I've seen people in the same situation to save ~$3,000 in prep fees, did the return themselves, then received a $120k IRS notice of change to their return.

Not saying anyone that has replied on this thread is a fake lender but SM is full of those folks I will connect you with the actual lenders  I do not participate in fee's just trying to assist.. 

For example, if the equipment costs $50,000 and only saves you $5,000 in rental fees annually, is it worth tying up that capital?

We NEED these to offset the extra legal fees, unaccounted for damage, and unrealistic high appraisals of some of the other deals we invest in!  

The fees are loan processing fees that never came up when I asked about the loan fees.

Memphis holds a lot of hidden opportunities! 

Disclosure: my firm charges upfront fees.