BookkeepersRole:Bookkeepers are responsible for keeping track of the day-to-day financial transactions of a business.Responsibilities:•Recording income and expenses (sales, payroll, bills, etc.)

To maintain your standard of living, your rental income must increase faster than inflation.

Say Income tax rate is 25%. 

A popular Excel template is Vertex42 as it automatically includes spaces for property details, rental incomes, expenses, and a summarizing sheet.

Sorry for the tough love, but not buying the above.You & your wife's salaries should cover your expenses, while the income from your remodeling gigs should be saved.Recommend you review EVERY dollar you made and what you spent it on in 2024.

Does not affect your debt to income for future loans in the mortgage industry (auto loans could look different, but i would think similar so hopefully no worries there). 

Leverage your W-2 income for better loan terms, explore private/hard money for off-market deals, and network with investors to expand your deal flow.Good luck!

To analyze deals efficiently, focus on key metrics like cash flow, cap rate, and expense ratios—make sure rental income covers mortgage, taxes, insurance, and maintenance while hitting your 6% cap rate target.

Buying a mobile home to place on your land can be a great way to generate rental income, but like any investment, it comes with pros, cons, and key considerations.On the pro side, mobile homes are typically more affordable than traditional single-family homes, meaning lower upfront costs.

Though it may cash flow well based on their current debt service, when you compare the income it produces to the equity they have is it actually even a good investment for them from an ROI perspective or would they be better off liquidating and redeploying?