Happy to share if you're interested.Accounting systems are great: QB, Stessa, Digb but the reality is you want to track a few things at a high level, this will make your life a lot easier when you sell/need to report income/loss, and accounting systems won't always make this easy. 

Govt is out of control. 

Make sure to factor in 5-10% vacancy, taxes, insurance, mortgage, repairs & maintenance, lawn care, pest control, management fees, utility costs (goes in your name when vacant), turnover costs, and capex reserves. 

The linked article claims 8 out of every 100 renters are evicted annually, but that only counts tenants evicted through the legal system.

This includes getting comps or an appraisal to verify value, lenders title insurance,  a proper note and mortgage,  and you must be listed as a mortgagee on the borrowers property insurance policy.Our lending criteria in our lending business caps our loans at 65% of the after repair value and we control all rehab funds as we hold them in escrow. 

Even though it’s rent controlled, we don’t feel the level of tenant entitlement is as high as A or B areas.

This is a great system to get in place and one less headache to worry about. 

Did you get a sprinkler system? 

I am told that there is a 26% tax credit with a new solar project along with the ability to depreciate 87% of the cost of the system in the 1st year.

Adding internet service to the building and placing mesh systems around so the whole building is covered..