Being a townhouse most of them have CC&R's that you need to ensure you're following. 1) I got started in RE back in 2014 at the age of 20.

Specifically, I’d love to hear about best practices for managing shared spaces, screening tenants, and setting up house rules.Additionally, I plan to split the utilities among the tenants—any advice on how to handle this efficiently would be greatly appreciated!

Quote from @Alan Mills: Got an inspection objection back with something I’ve not seen on my other rehab’s (this is a Colorado property):“The seller agrees to have a licensed plumber install external sewer cleanouts per city code and scope the sewer line ensuring its integrity.”This was a full interior/gut rehab and almost everything is brand new.

Have to ensure that with taxes and insurance added you can meet the DSCR ratio needed but you should be able to refinance out of this one.

This means there are no checks and balances to ensure all transactions are entered correctly.

Made sure to check the ledger and T12 to ensure that the tenant was qualified correctly before purchasing the property.

A good property manager can help with tenant screening, enforce lease terms, and handle evictions more efficiently if it comes to that.Require a Larger Security Deposit: Within the bounds of local regulations, a larger deposit can provide a cushion in case of damage or unpaid rent.Consider Rent Guarantee Insurance: Some companies offer insurance products that can cover lost rent in case of tenant default.

Do your homework before committing to ensure you’re getting real value.3.

To maximize returns, ensure compliance with local regulations, prioritize owning the land, and offer student-friendly amenities.

It can strengthen your relationship with your property manager and demonstrate that you value their contributions to your business.It helps ensure compliance with lease agreements.Many lease agreements require landlords to name their property managers as additional insured parties on their insurance policies.