What effects would you expect to see from this legislation change?

Start with these three key points:Current SituationAssess your current or expected capital and credit within a realistic timeframe.

@Phil SheltonYou would need a civil engineer to provide a drawing to get submitted to zoning and get a permit if it passes zoning is most common This also depends on the road - if it’s a state road forget it as it will take a year to get approved and cost a fortune - if it’s a local road process not as cumbersome but don’t expect this to happen quicklyIn some instances you may have to prepare sight distances etc to make sure it’s safe to add a curb cut

From my experience you should expect a 10% to 15% of gross revenue for repairs/maintenance. 

It's costly but that's what is expected.  

You should also notify the tenant when they are either in violation of a reasonable expectation of the properties use or condition whether specifically outlined in the lease or not.

We expect a tenantwith an animal to do their part to combat fleas and ticks.

So the money partner may leave around $35,000 into the deal and may expect to get a profit of around another $35,000 over a 3-year period of time. 

My frind in Omaha ended up picking up his second property sooner than he expected, simply because he’d built a small name for himself with one successful deal already under his belt.Are you feeling confident about the day-to-day responsibilities, or is there something else in the process that’s keeping you up at night?

Now this is an annual thing (for all new properties).For rough math, you can generate a tax write off about 15-20% of the real estate value: one a million you can expect a $150k to 200k write-offs.