It puts each expense in the appropriate IRS code and punches out year end summaries that I email to my tax team. 

This will trigger tax consequences!

This forum has been an absolute wealth of information around the foreclosure process and trustee sales.I've been heavily researching tax sales/foreclosures for a few years now and finally feel ready to take the jump.

Key things to keep in mind with your numbers are:Rent should be > PITI (principal, interest, taxes, & insurance) + maintenance + vacancy + capex + property management fee. 

As a result, a mixture of high taxes and decreasing job prospects are making rental properties less profitable and more risky, never a great combination. 

It’s looking like this will cash flow neg just with est mortgage payments plus insurance and taxes of $1100ish (after renovation), property management of $120. 

Hey,I'm a foreign CRE investor, tired of French taxes and complexities in everything there.

Otherwise, it looks like you may have 1031'd into "bad investments" for the tax deferment but are now eating the cash flow as a result. 

@George Bell my LLC's do two main things:1) Hide my identity, so tenants can't easily find me. 2) Separate my business and personal assets, income & expenses, not so much for tax purposes, but to avoid IRS issues.-- Just audited by IRS this summer for first time ever and had no issues!

It’s looking like this will cash flow neg just with est mortgage payments plus insurance and taxes of $1100ish (after renovation), property management of $120.