Since the payment was deposited into your account on 1/6/2025, it would typically be considered income for 2025, even though the tenant paid it on 12/31/2024.However, if you use cash-basis accounting (which most landlords do), the key factor is when you physically receive the money, not when it was sent or owed.

It’s gotten me seriously considering bringing an attorney in-house to handle evictions and other legal needs moving forward.I’m evaluating this from two angles:Cost Efficiency: With the expense as high as it is, having in-house counsel could potentially reduce costs over time.

The systems you have in place to handle leads, follow-up and your sales processes are also huge factors.Another factor is what is your monthly marketing budget?

It makes lead management way more efficient since they get to focus on people who actually want to do business. 

Beyond the lessons from the projects themselves, building a business that’s efficient, diversified, and focused on the luxury market has been a game-changer.

Keeps it efficient

., new flooring, updated bathroom/kitchen fixtures)-Energy Efficiency Upgrades (e.g., solar panels)-Accessibility Modifications (e.g., ramps, widened doorways)-Luxury Items (e.g., pool)-LandscapingNot Acceptable Renovations:-Commercial Use (e.g., turning a residential property into a commercial property)-Temporary Structures-Non-Residential Buildings (e.g., barns, stables)FHA 203(k)Minimum Down Payment: 3.5%Minimum Credit Score: 620Minimum Loan Amount: $50,000Maximum Loan Amount: $524,225Occupancy Types: Primary Residence ONLYUnit Maximum: 4 UnitsAcceptable Renovations:-Structural Improvements/Reconstruction (e.g., adding rooms, bathrooms)-Cosmetic Enhancements-Eliminate Health and Safety Hazards-Energy Efficiency Improvements-Major Landscaping (e.g., grading, tree removal, adding walkways)Non-Acceptable Renovations:-Luxury Items-Commercial Use-Temporary Structures-Non-Residential BuildingsBoth of these renovation loans are similar in many ways, but the key differences are:1.

Property management....it just make business sense as a leverage point for efficiency of your time. 

I'm sure it's a little more efficient in larger cities, but my market requires up to 60 days to get approval.Lower your expectations with Section 8 tenants.

I download those into Geo Batchcode so I can plan an efficient route to check out those properties, and of course I take note of any others of interest that I see along the way.