Quote from @Jeffrey Bourque: Hello All, I am new and this is my first attempt at purchasing a property with the intent to create monthly cash flow.The property: Triplex Listed at $140,000 - Total monthly rent income $2,150 - Tenants want to stay and are all willing to sign new leases for 3 years - 8 beds 5 baths and 3,500sqft livable space on a 4,800sqft lot - Heat and electric paid by tenants and water trash paid by owner $180 month - I have managed to talk the selling price down to $105,000 with a kick of $10,000 for closing and commissions so $115,000 all in - Building is in fairly good shape according to pictures and questions but have not done a inspection yet - some general maintenance repairs are needed according to the seller but nothing that seems to bother the tenants. - Taxes are on the higher side at $6,000 yearMy Numbers: $115,000 putting 20% of my money $23,000 and finance the rest with total expense of $1,834Monthly expense numbers: Future Maintenance 13% $273 - Vacancy 5% $105 - Property Insurance 5% $105 - Property Taxes 23% $500 - Property management 10% $215 - Office/Travel/Legal 4% $84 - Mortgage 26% $552 - Monthly Cash Flow - $316 per month or $3,792 per year so Cash on Cash = 17%I think this looks like it is a deal worth doing and I also believe I can bump the total rent up by $50 each tenant which I think make it even better.

My wife and I thought we had an easy opportunity for a double (baseball analogy) with a flip home in Lakeland, TN we were able to get well below market this past summer.

A double-entry system (like QuickBooks) allows you to reconcile your bank statements, ensuring no missing or duplicate transactions.

Property has more than doubled in value, Rents have increased by 40% and very little turnover.

I recommend reaching out to 2-3 PMs and then using tools like Zillow and Rentometer to get a full picture.

It’s great for tracking payoffs and managing commissions or fees automatically while giving you a clear picture of your cash flow.For mortgage lenders, Lendesk is a solid choice.

I'll double check with a few tax strategists we work with and update this thread if I hear different. 

It's hard enough trying to interpret the big picture, the less info they provide the less effective we are.Newbies; help us help you 

These homes are what most people picture as “home” and lend themselves well to coliving strategies.

We will be almost doubling our portfolio next month (81 doors total).