You will still have to hustle to acquire tenants, get them to pay rents consistently, then out of those profits, you still have to deduct vacancy factors, maintenance, management, taxes, insurance all of these items will affect that 10% hypothetical return.    

If you say they are, you are just proving that it is hard to find consistency in CPAs.Actually you may be right because in my opinion  if the expenses (property manager fees, inspection cost for example) belong to 2017, so the income should even though the property manager still holds the money.As I always did all my accounting, I am doing as well the Malta part, and I think I know what to do.

For me and partners we focus on 200 to 300+ unit apartments where there's less risk, room for upside and consistent cash flow.For you it most depends on your goals, time available, etc. 

I'm waiting to hear back from the bank on what the repairs consist of.

For the last couple months, she‘s been consistently coming up short.

All have different guidelines surrounding what you must use for qualifying payments.With deferred loans, however, it's pretty consistent that you must use 1% of the balance as the qualifying monthly payment.One work-around is to go on an income based payment plan. 

To keep things simple, we stay consistent with our percentage ownership in everything and that is reflected in our K-1s.For additional work I've done for our LLC, we will pay me "management" or "services income" and I get 1099's at the end of the year.

The Heights is where you have a good chance to find one due to relatively consistent construction through the last 50 years on parcels of land that (at least started out) at a decent size, not those subdivided postage stamps in Rice Military. 

I've been back and forth with her on the phone consistently for the last week and half about everything and I know she has no help.

Hi Joe,I would be happy to visit with you and show you consistent 2% properties, 10% cap rate, 15-20% cash on cash return right in my backyard in south-central Wisconsin.