Those are the cost of doing business.I will use my clients property, purchased last year as an example:(57,000+6228-3500)/$190,000=31% IRRMy client lost money throughout the year(repairs, vacancies, etc) and had an 8.1% interest rate.All this to say if you can stomach a few down or flat year, you will make a killing!

So repairs are done at a fair price the same day/night.

For the property I purchase, I’d like to keep my monthly mortgage payments at $2,000 or less.I prefer a turn-key property since this is my first rental, and I want to start generating monthly cash flow immediately without the delay of repairs or managing two mortgages.

As far as the 1099, that is for payment to owners if you manage for someone else or your vendors whom you pay for repairs and maintenance. 

The letter also states the total non-rent items currently owed by the tenant, such as accumulated late fees or repair charges.Also very important, the tenant states they have no unresolved issues with their current landlord, except as listed in a space provided, and they have no current plans to cancel their lease under the Service Members Civil Relief Act or for any other reason. 

When they move out and i paint over the spackle repairs it is usually undetectable. 

Besides that, I have a credit repair and funding company that helps entrepreneurs get their businesses going.

The procedure is very similar to 1099-NEC: file it online.

Since the price of a multi unit is double or sometimes 3x the price of a single family home, would it be smart to start off with a SFH and scale up from there or just make the leap into a duplex that I can force some appreciation with minor repairs.

The current owner bought it for $30K and I know they had to clean up a lot of title work and started doing repairs.