I still have a full-time job, but my goal is to start with 1-2 flips/year for the first couple of years, then ramp up to 5+/year.Right now, I’m focused on learning as much as possible—market analysis, deal sourcing, estimating rehab costs, and raising capital.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

It cost me $8500 in my HCOL to get the electric separated on a 3 unit.

Streamlining Renovations for Efficiency & Cost ControlManaging multiple renovation projects at once demands an operational efficiency that can be tough to achieve.

Sure don't do the renovation, I only do renovations that project a return of 2x the cost of the renovation.

Most PM software allows late fees to be charged.Ours allows us to absorb the cost of tenants paying electronically thru the software - it usually wants to charge tenants, but we want them to pay electronically.We manually charge tenants a Processing Fee for mailing in their rent, a slightly lower Processing Fee for depositing to our bank.Your success will depend on the Class of your tenants.

If they tenant is $300 below market, that's costing you $3,600 a year.

We don't believe they are stealing, but their negligence has cost us a lot of money.* Is this enough to file suit in small claims court? 

Does a cost seg or bonus depreciation actually help you in any way? 

Originally posted by @Eddie Torres:@Natalie Kolodij Standard or foreign LLCs in California still cost $800 annually unfortunately.