When it comes to basic necessities such as food and clothing, groceries are around 6% less in Jackson, TN than in the rest of the country, while clothing costs around 6% less.

It acts as an emergency fund In my opinion while it’s not deployed anywhere, and god for bid you have a large capex item go that you might not be 100% prepared for and you can resolve it immediately.

.: Yeah..ok...And all teachers should have kids first...All doctors should have lots of medical issues before they can practice....All dentists should have lot of dental issues before they can practice...Every waiter should owner a restaurant before they can wait tables....Every car salesman should have bought multiple new cars before selling any....I get your point..... it would be great if every realtor had to have real life home ownership under their belt, so they have that BTDT experience..... but not gonna happen And all teachers should have kids first...More like you should have kids before you get a job teaching parenting skills to new parents.All doctors should have lots of medical issues before they can practice....More like you should be a Doctor before you train Med students.All dentists should have lot of dental issues before they can practice...More like you should be a Dentist before you train new Dentists.Every waiter should owner a restaurant before they can wait tables....More like you should try the food on the menu.Every car salesman should have bought multiple new cars before selling any....More like you should know how to drive a car before being a car salesman.

This is a proactive approach that helps ensure that you have the necessary information to prepare and file 1099s accurately and on time.Another best practice that I would suggest is to maintain accurate records of all payments made to contractors throughout the year.

I'm prepared to make a down payment of around $70,000, and without factoring in rental income, I can qualify for properties priced between $650,000 and $700,000.

NOI/variance, weekly leasing updates)- Tenant screening process (what software do you use to vet tenants and set them up once they are approved, how do you keep track of marketing/, do you handle lease preparation, how do you handle tenants that pay rent late (or not at all), etc.)

Most tax preparers and bookkeepers will prefer QuickBooks Online.

Some food for thought.Kudos to you again, keep us updated on how you progress.

Most of the cash-on-cash returns I'm seeing when calculating even modest management fees and repair/reserve stowaways seem to be consistently in the 4-6% range for COC, and that's assuming no big surprise expenses that affect cashflow. 3b) Even 50 miles outside of Atlanta like Dawsonville, Cumming, Matt areas are expensive for a modest home in areas that have room to grow and don't suffer from being a food desert (you know what areas of the city and metro area I'm talking about).

I recently launched my co-hosting business and have been researching the markets in San Diego daily to be as prepared as possible for my first clients.