Hey Deirdre,To address your questions:Providing freedom by handling day-to-day operations.Offering peace of mind through proactive maintenance and tenant communication.Reducing risks by staying ahead of legal requirements, tenant screening, and dispute resolution.Enhancing the bottom line by identifying cost-saving opportunities while ensuring tenant satisfaction to reduce turnover.Is the experience still important when the property thrives financially?

Additionally, many states offer property tax exemptions, significantly reducing expenses.

Step up in basis to reduce your heirs' taxes and morePlus the real estate tax "deferral" can end up being permanent if played correctly

I would also add, a contractor that you can buy materials for and they know how to put them in with little to know direction (reduces the management time of the project).

Do the math and you'll see it doesn't make sense.The best way to invest: increase earnings, reduce expenses, and save.

The flat fee buyer agency fee reduces the amount of the buyer credit/refund, generally by $6,000 (although options range from $999 to $8999, depending on how much help the buyer wants from the agent).

The problem is that your debt payments are going to basically wipe out that $400K profit unless there is room to increase revenue or reduce expenses.

My agent is saying that we are unable to split the contract that way (or reduce the purchase price), so I'm trying to figure out options.

Just be mindful of the following things when it comes to California.California does not recognize Bonus DepreciationCalifornia does not recognize real estate professional status.Therefore, you can potentially reduce your Federal taxes but not your California taxes.

This takes a little more work, but it's the fairest and reduces the likelihood of tenants that squander utilities.If you choose #2 or #3, there are considerations:Start with an average.