The harsh truth is that you are not cut out for this business.

We could cut things and not rely on it, but it would be a little uncomfortable.

These states tie up the legal system and cause congestion.

I pushed back on the idea of an up front transaction fee of 10K and told him that I'd be happy to pay a transaction fee at closing, but wouldn't feel comfortable paying 10K without it being tied to an acquisition.

For example, one municipality local to me requires a sewer inspection because some houses still have gutter downspouts tied into the sewer system which is improper.

He announced on IG stories that a morbidly obese tenant had to be removed by paramedics by cutting a huge hole in the front of the house.

Buy a fourplex so you have a place to live and three rentals to cut your teeth on.

.- Most contractors will cut corners, or worse, once they figure out they won't be watched closely:( Your job will also go to the bottom of their priority list.Monitoring progress is relatively easy: hire that same inspector to go by weekly or before any payments to take a VIDEO of:1) What was done2) Quality of workmanshipOne other thing you didn't ask about, payments to contractors.- They all want 50% down or as much as they can squeeze out of you. 

Microsoft Excel, and most budget or free online bookkeeping isn't going to cut it in this situation.For the rental properties you own directly, I often tell clients and prospects that a P&L in Microsoft Excel is just fine and a balance sheet is not necessary for tax purposes. 

On a 2M property you should be able to write off roughly 300-400k, so that would cut your real estate income down for years, but not your W2, because I don't think you would be able to claim RE professional status. 750 hrs and min 50% of your time.