They can identify potential investment opportunities... not to mention all the tenant/landlord laws, eviction process, security deposits, accounting, end of year tax statements etc. lots of pitfalls to be avoided.wish you success in your ventures!

If you spend at least 500 hours annually managing or operating a rental or real estate-related business, the activity may qualify as non-passive, allowing you to deduct losses against other income.

I agree, with turning the property over you have to make it ready, account for vacancy and go through the courts for an eviction, all of which will cost you.

Account Closed also invests in Louisville and is a wealth of knowledge.

Actual cost takes into account depreciation so complete destruction of a property could leave you under water in terms of the amount paid for the loss.

These are features like online renter payments, tenant portal (for payments and work orders), help keeping track of work orders, tax reporting features, and accounting functionality.

I have a large lump sum saved in an investment account for down-payment and any additional costs.

When I purchased the property, it had the basement with tenants but the rental income wasnt taken into account and it was just considered a two flat, as it had two units in addition to the basement.

These qualities are far more valuable than the numbers in your bank account.7.Set clear goals.

Where I am running into an issue is there is a delinquent account on my credit history.