I have quickbooks but I feel there is a lot of unnecessary stuff so I wanted to know how most of you guys that are running multiple rehabs at one time, how are you collecting receipts, reconciling statements and tracking profit by project.

I did a deal last fall with 6 lawyers involved: they added so much unnecessary drama and cost and time to the deal, it’s amazing we made ever made it to the closing table.

The only thing I would anticipate needing in terms of capital expenses in the next few years would be a new HVAC unit which is on the older side, but we have already budgeted for that and have a service contract with a company that manages our HVAC, water heater and oil tank.Am I crazy for thinking that a property management company would be an unnecessary expense in my case?

Doing anything else creates unnecessary complexity.

Sure, it might convince them to sign a shared-driveway agreement, but it could also stir up unnecessary animosity. 

The peace of mind and seamless transactions are far more valuable than squeezing out a few extra dollars from a deal that could fall apart at any moment.Real estate isn’t just about the highest bid; it’s about the relationships and reliability that ensure deals are closed efficiently and without unnecessary stress.

Seems unnecessary to give away most of the profit to an investor if all they're doing is the financing?

Yes, treat your investments like a business and profits will come but there’s no reason to create unnecessary tension to a loyal tenant.Suurrree...go in there with an iron fist to a viable,reliable tenant and treat them like a product or a piece of property ...I’m sure they’ll be ecstatic to work with you in the future and will treat your property with respect 🙄.

:I agree with what you are saying Will, but some people won't pursue whats necessary for specific performance.True, but that would be there own fault, muy point is just that even if the insurance was not a scam, it is 100% unnecessary if you lock your deal first.

My point wasn’t that you shouldn’t be frugal it was that you shouldn’t spend unnecessary time trying to figure out how to save a penny when in the big picture the resource cost of time far outweighs the savings.