This means that you will probably need to pay registration and filing fees in at least 2 states if you don’t buy CA property as a CA resident.Be sure to tell your accountant that you may now need to file non-resident income tax returns in each state where you own property as well.

Any other expenses are using up funds that would otherwise be sitting in your checking account to make a mortgage payment with.

Quote from @Max Emory: @Bob Asad, there are a lot of different account structures out there but absolutely keep security deposits in a separate account from your opex/income account. 

With my rentals generating around $46K net annually, I’m hesitant to take on a long-term loan just to keep payments lower, so I’m leaning towards a HELOC.

As a result, no MiniStays account for me. 

.- Tenant Accountability: Many programs have strict guidelines for tenants, and breaking those rules (e.g., property damage) could jeopardize their assistance, encouraging them to be responsible.- Inspections: Some programs require annual property inspections to ensure compliance with their standards, which can occasionally be demanding.- Damage Risk: As with any tenant, there’s potential for property damage.

And 1/2 of that is accounting that I could farm out too, but I enjoy it. 

It can just be held in a savings account, no special account needed, but I always keep mine in an account separate from anything else.

You can then rent at market rate but have to register it with the town annually and abide by their annual inflation rules.

At this point my average annualized return is about 45%.