Are you trying to optimize your income from the laundry, or is it just there as an amenity?

The optimal way to maximize income is to be that granular about it, but that also requires time that some might not have, and resources that cost money.  

If you or someone you know would like to double-check that their tax preparer is providing optimal services for a competitive price, reach out.

More and more people these days are looking at optimizing the space within the house.

The properties would be sold with management agreements in place with either my management company, or a new company I have done a deal with that has proven to me they actually know how to optimally operate these properties.

Hi Folks - thanks in advance for your input on this - looking for feedback/opinions on the best use of 100k in capital to purchase buy/hold rental properties as a long-term wealth strategy (optimizing cash flow + opportunity for appreciation)All things being equal and assuming financing/credit is available and in good standing - I am curious to hear your thoughts on three strategies I am currently considering :1) BRRRR method - pay cash for (1) property all-in for 100k - perform necessary repairs, rent it out, cash-out refinance asap and repeat process over and again2) Pick up (5) properties valued at 100k each - putting 20% down on each, mortgage the balance and use cash flow/depreciation to pay down mortgages over time3) Purchase a multifamily complex valued at 500k, putting 100k (20%) down, finance the balance and pay down over time w/ cash flow/depreciationThank you all for your insight, I look forward to hearing the feedback  - Zac (Clearwater, FL)

Now I am on a mission to create systems that allow me to organize and optimize that portfolio (then I will think about acquiring more).  

My knowledge of the issue of effective management of RE investments is best optimized by hiring solid property managers.

As Dan said, you could also split test it with Google Website Optimizer (www.google.com/websiteoptimizer). if you chose to do this, let us know how it works out.

That said, here are the basic steps: - File your Articles of Organization (here is the Kentucky template, given you appear to be live there: http://www.sos.ky.gov/NR/rdonlyres/50E8E38F-40BA-4636-A6F1-89B47E3F5DDA/0/FillableKLCArticlesofOrganizationProfitLimitedLiabilityCompany.pdf) - Create an Operating Agreement for the business - Get a Federal EIN number (http://www.irs.gov/businesses/small/article/0,,id=97860,00.html) - Use IRS Form 8832 to elect a specific entity classification to optimize your business from a tax perspective (http://www.irs.gov/pub/irs-pdf/f8832.pdf) - Register with your state Dept of Revenue so you can submit/file income taxes - Register with your state Dept of Labor (if you have employees) so you can submit/file withholding taxes - Figure out your state and federal tax filing requirements based on your specific tax election and state requirements - Do any other state- and business-specific stuff necessary to maintain the LLC (such as pay annual fees, hold annual meetings, etc) There are the basics.