As Waco continues to grow, which neighborhoods do you think are on the rise, and what indicators do you use to spot emerging investment areas?

Along with the monthly HOA's, there is always the risk of assessments and these aren't always emergency repairs like cracked walkways, broken elevators etc.

@Jason Guenther why not:1) Pay off unsecured debt of $552) Get a HELOC on primary for EMERGENCY purposes only.3) Buy a 2-4 unit and live in one unit, rent the rest.

Plus, keep an eye on emerging markets like Greenville and Columbia in South Carolina—they’re seeing more development and interest.I can get you more information on specific areas once you have a more concrete idea of where you want to invest.Let me know if you want to connect and I'll be happy to help. 

Since I list some of my (very few - I only have 3 residential units and my commercial ones are all managed by others) units every 2-3 years, I forget how to do it, and even standard operating procedures change a lot at that frequency, rendering them much less useful.

If your accountant offers QB training or consultation, I would recommend sitting with him for an hour or two to go over your set up and procedures, this is also important.

The same laws and procedures apply.

I like to have one as a safety net or emergency fund.  

I would also ensure my family has a six month emergency fund for ourselves that is not part of the investment money, since buying your first property puts yourself in a more risky situation initially.

The correct procedure is to process payments to owners from your company's operating account.