Digitize physical receipts for easy storage and use a consistent naming convention for easy sorting - 2024.03.25 Home Depot.Maintain proper records, such as contracts, settlement statements, and promissory notes.Additionally, you can track income and expenses consistently using software or spreadsheets.As you scale, if bookkeeping isn't fun, consider hiring a bookkeeper for a couple hundred bucks per month.

@Sakib KhanRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

The Sheriff might require a deposit or fee, but will ultimately carry out the Order for Eviction and physically remove the Tenant.Andrew Holmeswww.chicagocashflow.com

Since you're a citizen but you live and work abroad you'd still qualify mostly for second homes occupancy or investor non owner occupancy (primary is hard to claim if your job requires you to be physically next to the office as an example so an underwriter isnt going to readily believe you unless you can get HR to write you a letter to state you're remotely capable of earning this income/job duties anywhere).Hopefully that helps let me know if you have further questions into mortgage planning.

I am not sure if anyone else saw it:"Full and Liquidated Damages": This limits both parties to just the damages stated in the contract.

When looking into it, the basement had water damage that didn't worry us since we knew how to remodel that area ourselves.

I have lost a lot more $$$ to tenant damage than to unpaid rent.  

Tax benefits, use of leverage, and a physical asset that you can see and touch.

There are also a lot of attorneys in FL working pro bono to go after lenders as I believe there is something in the statute that not only can they recoup fees but they can also get consequential damages.

If so, invest.Then, ask yourself does this property provide the characteristics you need for it to give you your return-- location, rental demand, buying demand, physical structure, etc.