If I'm not mistaken, the net cashflow (income minus all related expenses) is taxed according to your income tax bracket, which is around 30%.

A lot of people mistakenly think that an LLC is a corporation.

A tenant mistakenly caused a kitchen fire while cooking.  

But I want all the protection of transient, Innkeeper laws, not being mistaken for a long term rental.

Landlords mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.This also leads them to ASSUME simpler is better when it comes to management contracts.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

Furthermore, I received an outdated data report, possibly, in my current opinion, in an attempt to pass me a fast one by me.As a side note, my wife believes I might be overestimating the expenses of addressing the concerns raised in the previous inspector's report and that I could be mistaken about the entire situation.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – and they often select the first PMC they call!

Scenario:First position lien from 1998 is unreleased per county records.Property has been sold 4 times (and those owners received and released mortgages) since this time.Most recent mortgage has a title policy showing...