I took on the challenge and repaired them both myself.Many people have told me that real estate isn’t worth the hassle, especially when starting out.

If a landlord needs to enter a property for an inspection or repair, a two-day notice is required.Our Governor passed anti-squatting legislation a few months ago which allows owners to have the police remove them as opposed to before where it was considered a legal issue for attorney's to deal with.

For a new construction that the house will last at least 50 years before major repairs, we were pretty happy with the current result.

The purchase may not make sense if the repair costs are too great, so try to find out as much as you can.3.

It is also will allow for experience in managing tenants, repairs, accounting of the expenses etc...plus you get to keep a close eye on the property.

For reserves, you'll want 3-6 months of potential expenses saved (repairs, vacancies, unexpected costs).

I would imagine this would be close to a balance sheet.I'm not sure what my CPA would want, but that looked pretty inclusive since I categorized my transactions into their respective categories, ie property management, and repairs.

I will also be tracking expenses related to repairs, maintenance, travel to and from NV, hotel stays, meals, gas, and other regular business costs.In the long term, I aim to purchase additional properties under the business name, but I understand I need to establish at least two years of income and credit history before doing so.The issue I’m encountering is that my accountant has not provided any guidance on how to structure this scenario.

Seller would be open to creative financing since house needs foundation work.Asking 300kFoundation Repairs- $40k ( could be way less) ARV- $385 to 400k

One major repair and that's all wiped out (I see people gripe about that all the time)The best use of your money is to find ways to make money from it. i.e.