If you have hired a specialist to perform a cost segregation study of your real estate property, they will likely use one of the six most common methodologies recognized by the IRS.

And just the other day, I was grabbing coffee with a friend who reps a group of invsetors out in San Antonio.. they got burned early on by not clarifying their rental criteria, picking up a triplex that sounded good on paper but turned out to have a revolving door of problematic tenants.A baseline business plan isn’t just a mind-numbing exercise.. it’s the guardrail that keeps your momentum from swerving off into the ditch.

It sounds like you / your parents should just hire a professional property manager for the inherited properties.  

Similarly, My mother-in-law went to live in assisted living homes rather than us having a guest house in the backyard of our current home where we could have hired a nurse full time to be here with her to take care of her at our home.

-Leverages your current momentum and enthusiasm for investing, potentially accelerating your path to financial freedom.Cons:-Requires managing two properties, which could add stress unless you already have a system in place (or plan to hire a property manager).

Congrats - huge advantage to agent investors that can save on those costs and self rep

Wherever you guys are now, you should be out looking to get viewing reps to help you later.

Even that manager needs to be really hard worker and skilled in so many different areas...sales, marketing management, hiring, firing, reservations, computer skills, and more.   

Others rely on networking... hooking up with probate or divorce attorneys who sometimes have leads on properties that aren’t widely marketed.If you decide to hire a property manager in the Jasper area, maybe chat with a few owners who’ve used them.

I am looking to hire a new property manager in Phoenix.