My CPA was unsure... do you issue 1090-NEC for the difference between 1099-K and 1099-MISC or do you double up the income (i.e. 1099-NEC for gross rents from PM, 1099-K of the net owner distribution on 1099-K, then owner reports double income and puts a line item expense for the 1099-K since 1099-MISC covers gross rents).You need a new accountant lolPM issues 1099-MISC, not NEC for rental income paid to property owners.You would still issue the rental income paid to the owners regardless of the payment method.The Property Owners should add an expense line item on Schedule C stating that income reported twice on Form 1099 to offset any duplicated amount.

This allows you to report the rental income and expenses directly on Schedule E of your joint tax return, simplifying your tax filing process.

I joined with the intent to surround myself with others in the field and build my confidence and understanding of the subject matter (:I live a disciplined lifestyle when managing my expenses and living below my means.

For 1099 income, we will look at a 2 average of income using your NET NET income (bottom line income). 

I believe United FCU is best. 20% down, usually a 10yr term (they offer a longer term though), and an interest rate that's pretty close to the current average for conventional loans. 

If you can't find a property that cash flows with real underwriting numbers, 8-10% vacancy, 8-10% property managment (whether you do it yourself or hire someone, you still need to account for that time/expense) then don't buy it.  

Insurance was way more expensive this time—which I've heard is a nation-wide phenomenon—and it's the first time since the NAR settlement that we've purchased, so we had to cover part of our agent's compensation.

If you do it right, it’s arguably the best market to invest.Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 4-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.

For the most part, banks are not very friendly right now to your average Billy & Rachel. 

I have looked into the windows and currently have a contractor quoting it out, however it is extremely expensive and there are no promises that it will improve the noise.