-Rent collection and financial management is probably not at the top of the list based on some of the challenges that we hear about, mainly because if you are lucky enough to have solid tenants and low vacancy, this is easy peasy, but if you have some challenging tenants that default on payments, or the possibility of an eviction arises, it can be worth paying a management company to help guide next steps. 

@Jacob HavlovickCongrats on purchasing your first duplex and starting your house-hacking journey—this is a huge step toward building wealth!

Take a step back and realize that you’ve done more than 99% will ever do when it comes to real estate. 

However, you still get the same step up in basis upon your passing.

Building a strong financial plan, researching markets, assembling a reliable team, and having an exit strategy are essential steps to success.Good luck!

Hi Makani, congrats on taking the first steps into real estate!

Since the properties are in New York you have a few extra steps you need to do to keep all of your funds out of NYs hands at closing.Here's an interesting BP thread on the South Carolina property tax issue you mentioned. https://www.biggerpockets.com/forums/725/topics/604427-south.... 

Here are some practical steps and strategies to consider:## Single Family and Small Multifamily HomesWhen looking at single-family and small multifamily homes in northern Illinois and southern Wisconsin, make sure to analyze the local market trends, rental yields, and property appreciation rates.

While this guidance provides general steps, it’s not legal advice; an attorney will ensure the process aligns with your specific circumstances.This post does not create a CPA-Client relationship.

Quote from @Najeh Davenport:  Hey BP family, I’m hoping to get some advice because I’ve hit a bit of a roadblock with a refinance, and I’m not sure what my next steps should be.