The extra 1050 a month definitely helped with the bank.

McKinney is thriving, but so are other parts of North Texas, and a broader perspective could reveal other great opportunities.Here’s what I’ve observed managing a significant number of rentals in the area:Bedrooms and Layouts:3-bed, 2-bath homes consistently attract the largest pool of tenants and have the highest occupancy rates.4-bedroom homes have grown in demand, especially with the rise of remote work, as tenants look for extra space to use as a home office.Square footage is less critical than number of beds and baths.Supply and Demand:McKinney’s growth is driving demand, but the quality of the location matters greatly.

Can I personally take that extra finance money tax free into my own name or personal bank account to do with what I please, or does the refinance money have to stay in that Llc company and I cant use it personally.

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

When it comes to analyzing properties, I’ve developed a specific checklist to make sure the home fits both resident needs and operational goals:Square Footage: Ideally, at least 2,000 sq. ft. to ensure enough living space for residents and staff.No Stairs or Pools: It reduces liability and keeps the home accessible for everyone (this is just my preference).Corner Lots: I love corner lots because they often provide extra parking and outdoor space—both of which are critical for families and visitors.

Personally, I bought a 3 bed single family home soon after starting my job and had two friends from college rent which covered my mortgage plus a little extra.

Not much good stuff on the market right now that can cash flow without work and on the MLS the prices don't allow for some extra reno. 

Requiring occupant to have renters insurance is another possibility for extra protection.

Eventually, I realized that if I kept waiting until tax time to organize my books, I would never escape the stress (and extra CPA fees).