Some custodians are really good but have higher fees, so using them if you have a low dollar account may not be the best move and vice versa. not specifc to ET, but as a GP, we have worked with most in regards to assisting clients get their investment coordinated.

Here's a list of things to track:- Formal lease application- Formal signed and executed lease specific to your state- Payment history (I recommend using online rent collection like Apartments.com, RentRedi, etc)- Maintenance requests and receipts- Accounting for all rental-related expenses (repairs, utilities, etc) The more you treat it like a business, the more helpful you are to your CPA come tax time. 

Remodeling costs increase the property’s basis, while post-rental repairs are deductible expenses in the year incurred.An LLC isn’t necessary for a single rental but can provide liability protection as your portfolio grows.

I am a local realtor in the Boone, Blowing Rock, Banner Elk area and would love to help out if you need any assistance.

Especially if once you move out, you won't have any contigency or free cash flow for repairs or vacancy. 

There are a ton of complexities with properly repairing a fire damaged house....they sell really cheap for a reason.

They obviously cannot control some costs, but they do have input on things like maintenance and repairs and some other things.

Others focus on achieving a profit of at least 10%-15% of the ARV (After Repair Value).

We are always here to assist in answering as many questions as you have & to work through any issues that come up along the way. 

Purchase price: $90,000 Cash invested: $55,000 Triplex in SE Cleveland (D+ neighborhood)Purchased for 90 and saw 105 for valuation. 25% down plus closing costs and unit repairs has led to about 50-60k going into the deal.