Your concerns about math are completely normal—many successful investors rely on tools like the BP calculators and focus on learning by doing rather than mastering every financial detail upfront.

Are there tools (i.e RentRedi) that you recommend using for LTR tenant screening, rent collection, background checks, etc?

As many of you can probably relate, this book opened my eyes to the power of the dollar, and it got me interested in real-estate.

If you don’t have a clear understanding of your cash flow, operating costs, and future expenses, you could be setting yourself up for financial stress down the road.The Power of Financial ClarityYou can’t make smart decisions without knowing the full picture of your finances.

It will teach you how to effectively manage your own property giving you the tools and guidance to be able to manage a property manager down the road. 

Do you have any specific data sources or tools you rely on for market research?

I am hoping to get suggestions for better tools that are still affordable for new investors like myself.

For example:CapEx: $250-300 per unit per year for older properties, adjusted based on age and condition.Maintenance: $500-800 per unit per year, depending on property class and tenant turnover.Make-Ready Costs: $1,000-2,000 per unit for turnover, depending on the scope of work required.Resources and Tools: Utilize tools like BiggerPockets’ Pro Calculator or other underwriting spreadsheets that have built-in assumptions for these categories.

Paying cash is safe and admirable, but it totally takes away this strongest tool of real estate investing.If I asked you if you could figure out a way to earn a higher rate of return than 7%, then you should be pulling equity out and rolling it into another.

My net number is rental income minus expenses(3 mortgages, paying power bill at all three houses, property tax, insurance, internet in two properties).