Estimated costs range from $500–$1,000 annually, depending on the complexity of their LLC and rental activity.For Partner 2 ($148K joint income, W-2, 1099 income, 1 rental, 2 kids), a CPA is strongly recommended.

Is it maximizing rental income?

Currently, I own a restaurant in Florida that’s generating a decent income.

Adding extra income streams, like charging for utilities or offering laundry services, can also help improve cash flow.

From what I can tell, Charleston is considered a Growth market, Columbia an Income Market, and Greenville appears to be a hybrid (this is what I'm looking for). 

Therefore one of the most undervalued skills is the ability to continue to earn income independent of the real estate performance as you scale until the real estate alone becomes sustainable.

The Tenant Class greatly impacts rental income stability and property maintenance/damage by tenants.Both Property Classand Tenant Class affect what type of contractors, handymen and property management companies will work on a property.If you buy & renovate a property in Class D area to Class A standards, what Tenant Class will rent it?

Pacing yourself is key, especially as you get hands-on experience managing maintenance and tenant dynamics.Since you have a strong W-2 income, you're in a great position to leverage creative financing options as you grow.

thats basic list one can add.Value add /  New construction / land entitlements/ Timber / Minerals/ Lendingetc etc.. far more ways to actually make money than just buy and wait for rental income to payoff debtl 

My name and my daughter’s name(s) are also in title and the loan.I have really good equity in both properties (six figure) with great interest rates.At some point my daughters and their husbands will move out to upgrade to something bigger.I want to turn these properties into investment properties after my daughters move out:  thinking the best way is to convert in my name only.Also considering leveraging the equity in the properties to help buy new homes/townhomes for my daughters when they are ready as well.Wondering what the best strategies would be for me to expand property portfolio, minimize tax impact , create more passive income while continuing to help my family grow.I appreciate any advice!