Digitize physical receipts for easy storage and use a consistent naming convention for easy sorting - 2024.03.25 Home Depot.- Maintain proper records, such as contracts, settlement statements, and promissory notes.- Additionally, you can track income and expenses consistently using software or spreadsheets.If you track everything, you could show a loss and use that to offset other earned income (such as a W2) which will net you a bigger refund.

This is an old thread and I don't have an opinion on Rent Hero (except that maybe this business name feels a little dated and pigeon holes them)For tracking receipts Real Estate Investors often think they need physical receipts for every single tax deduction.

Do we focus on flipping, (currently we have actually been trying to do this, but we physically can't find enough contractors in our smaller market <100K population to do that much work).

If it's a good asset(meaning primarily good location), you eat the 5.3% cap no problem you own the physical asset.

I see some larger single family homes in areas that appear to be zoned R2 that, at least from a physical perspective, seem like they could work for this.

If it crashes hard enough, it impacts your personal finances, your relationships, and even your mental/physical health.With the exceptions of politicians and so-called charities, building wealth typically requires sacrifice and time.

It would be smart to do a full lease audit, estoppels issued, and tenant interviews.And if you are buying cash, there is nothing mandatory, since it is your money at risk. but again, physical condition inspections, understanding of tenants (they are a great source of information about issues with the property that the landlord may not know or may not disclose), surveys to understand accurate property lines, etc.

We have a physical location downtown Greensboro and would love to connect with you locally! 

You must keep the tenants security deposit at a bank that physically operates a branch office in the State of NC.  

Investors should therefore exercise significant care when choosing their Qualified Intermediary because of the critical role the company will play in the administration of their 1031 Exchange transaction.It is extremely important to note that 1031 Exchange Qualified Intermediaries are generally not required to be licensed, regulated, audited or otherwise monitored by any regulatory body.