So, we are landlords now. 

But the places we all encounter that could only have a wheelchair ramp put in that intrudes into the public sidewalk (which neither the landlord nor the tenant owns, and now the sidewalk may not be sufficiently wide or accessible for a wheelchair), or that would require tearing down the storefront's façade (envision a storefront right up against the sidewalk), are grandfathered in. 

Since the payment was deposited into your account on 1/6/2025, it would typically be considered income for 2025, even though the tenant paid it on 12/31/2024.However, if you use cash-basis accounting (which most landlords do), the key factor is when you physically receive the money, not when it was sent or owed.

I also broker ALR's in Colorado, and create deals in which I connect operators with landlords looking to lease option the properties.PM me so we can connect!

As a landlord that at one point had 30 long term rental units, I agree with the advice from your friend. 

It's been illuminating to see who the valid owner of each property is; there's a landlord leaderboard on the site.The direct value proposition allows lenders to track a list of clients or companies in real time.

It depends.If you find a PM that is willing only to do some task becaue you're still very involved then go for price.If you're looking for a PM that will ease the stress to where you forget you're even a landlord then quality of service is key not price.

For example, if the typical rent per unit is $1,500 (3bd 2ba), my landlord at the time would have one unit with three rooms and four people within the unit (one person per room and one room with two people), each paying around $500.

Appreciate any advice...   I  was fortunate to pick up a great property in Leucadia, California in 2001 which will be worth about 5M after I complete ADU's on property.    NOI will be great on this property at 16.5K w...

There is a good reason why "tenants, toilets, and trash" is something a lot of mom and pop rental property investors/landlords/flippers are eager to move on from when they can!