In mid February, many tenants get caught up when they start getting their income tax refunds (depending how fast they file).Income tax refunds also give tenants the needed funds for first month of rent + security deposit, so they can move.Check out this graph, which was created from tens of thousands of data points:Regarding your property, suggest the following:1) Where specifically is it being advertised?

I would like to build a duplex on it for long term rental income.

.🔹 Ideal in Any Market – Whether home prices are rising or falling, lease options allow you to lock in today’s price while benefiting from future appreciation.Other creative strategies—like seller financing, subject-to deals, and the BRRRR method—can also open doors, but lease options remain one of the most powerful, low-risk, minimal cash out-of-pocket ways to build a portfolio.

Hello Derick, If you have not already done this, I suggest the Build Your Investing Team> menu/link at the top left of the page on Bigger Pockets and go through the process of building a team.

How is it for preparing taxes? 

Hey @Scott Chauncey, for the 2 SMLLCs, as long as they are disregarded to your personal tax return you can have them within the same QBO.

And 54% of the basis would be allocated to the 200K house.You'll have a small tax bill on the difference between your sale and purchase prices.  

And there are real estate text books, many used in business schools, as well as building trade books, magazines, youtube videos.

Be mindful that there are rules that the lenders want you to check off.Furthermore, there are other rules on the tax side where you want to normally be under to get the most tax benefits.The magic number in both instances is '14 days'Lenders want you to stay atleast 14 days to meet the secondary home requirement.The tax accountant normally wants you to stay less than 14 days or 10% of the days it was used as a rental to treat it as a rental and not as a personal residence.Best of luck!

Quote from @Charlotte Wilson: Maybe I am overthinking this but when I look at properties to purchase that I plan to rent out, how do I make sure I am including all the potential additional “cost” besides the mortgage and property taxes?