Consult a CPA or real estate attorney to understand tax implications, build a reserve fund for unexpected costs, and research local regulations to ensure a smooth and profitable transition into rental property ownership.Good luck!

You don't need to know everything to get started; you need a foundation to build on, and the rest will come through experience and then refining your education.You can build a basic understanding of investing in 3-6 months.

I can kind of understand that he wants to make sure I'm legit but that's a bit of a red flag for me.

Most importantly, understand the difference between a business purpose and consumer purpose loan.Read my post in this thread, which details our process in actionable terms.

Understanding them deeply.

First off, let me start by saying I logically understand a winers attitude is not based in victim mentality.  

Once you have a good understanding of what you can afford, reach out to your landlord in a friendly and casual way.

However my understanding is that exceptions can be made if unexpected life events happen such as job relocation, eminent domain, marriage, divorce, changes to family size, deployment, imprisonment, bankruptcy etc. 

We've seen 3% for 100+ unit apartment complexes, but they also have onsite staff not included in the 3% management fee.Two other pricing options to properly understand:1) Fee charged based upon tenant payments or just occupancy.

Quote from @Kwanza Price: Thanks Chelsea for your reply.I mostly wanted to understand what the experience was like and if you have any advice for setting up an LLC/IRA?