Once the home is a rental, you can deduct operating expenses like property taxes, mortgage interest, insurance, and depreciation (over 27.5 years for long-term rentals).

Now days you don't buy a deal you make the deal either with how you operate the property, how you finance the property, or how you purchase the property.

I'll also add that Bonnie's group is a great resource with operators from 0-Bonnie.

It's not a magic bullet to solve all operational needs, but the process works very well when a remote team member at a lower labor rate fits into the needs of a scaling business.

All of thoise are more expensive to install that electric baseboard but have much lower operation costs. 

Dr's, Nurses, Electricians, heavy equipment operators etc etc.. 

If you're a relatively new multifamily operator, you'll likely be required to hire a professional management company (inexperienced owners are typically not allowed to self manage the assets).

If you don't mind me picking your brain for some generics, what's the general volume and scale of your operation?

Hi David Oh-You asked about a profit sharing bonus for property managers to give them an ownership mindset and incentivize them to align with your goals for quality property management.I love this idea.While I do not have a formal profit sharing plan, I always like to recognize the property management company with gift cards to the operators and the people within the property management company I have regular contact with that help keep the property running well and keeping costs down.Related to this, a handwritten thank you card to the same people periodically goes a long way.I also like to do the same for the tenants that have been paying rent on time.To your success!

We've developed a solid plan to continue growing, but I’m looking to create systems that will enhance our efficiency and help scale our operations.