My CPA was unsure... do you issue 1090-NEC for the difference between 1099-K and 1099-MISC or do you double up the income (i.e. 1099-NEC for gross rents from PM, 1099-K of the net owner distribution on 1099-K, then owner reports double income and puts a line item expense for the 1099-K since 1099-MISC covers gross rents).You need a new accountant lolPM issues 1099-MISC, not NEC for rental income paid to property owners.You would still issue the rental income paid to the owners regardless of the payment method.The Property Owners should add an expense line item on Schedule C stating that income reported twice on Form 1099 to offset any duplicated amount.

It can also help cover HELOC payments if you find a property with solid equity potential.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Split the $20 to buy yourself lunch and dinnerIf you are on the road, daily per-diem should cover a lot of your day to date living costs.If they send you on the road, you can potentially airbnb your house.Best of luck!

.🔹 How It Works:If your rental income falls short of covering your mortgage (PITI), you can use liquid assets to supplement your income.

The insurance ended up non-renewing our policy because of the "claim," and most other insurers wouldn't cover our home because of the claim. 

For example, you might choose to take a blanket mortgage covering all properties, BUT perhaps the market softens and later you wish to sell a property.

There are also strategies we can cover that help you obtain more doors with less money out of pocket, so let me know and we are happy to help!

Covering the mortgage isn’t an issue, but I’m considering factors like: Multi-Family: House hacking would help offset costs right away, but I’d likely need to put money into renovations upfront.Single-Family: Easier move-in with no immediate renovations needed, plus potentially lower tenant turnover once I rent it out For those who have been in a similar situation, what did you choose and why?

If not, you must get a job to cover the difference.Lasts Throughout Your LifetimeYour rental income relies on your tenants maintaining stable employment at comparable wages.