Basically they often are added by people who do not do thorough and accurate underwriting. 

Many investors in NY like the idea of house hacking because:- They can invest with a low down payment (similar to what a 20% down payment would be OOS)- They gain hands-on acquisition, project management, and property management experience.

The further you get into the deal the more skin in the game you end up having so it just makes sure you see the project through so you recoup the time and cash invested. 

My goal is to build the capital needed to start investing in Real Estate, and I felt this was the best way to get there.I spent 6 years as a project superintendent with a commercial builder, followed by 2 years as a construction manager in the track home industry.

Transaction volume is basically non-existent.

So your super basic P&L may look like: $30,000 Rents-$3,000 insurance expense -$9,000 interest-$3,000 taxes-$8,000 operating expenses-$14,000 depreciation ----------------$7,000 loss on paper for the year  so negative taxable income But remember- $14k of that (depreciation) was something we didn't actually spend money on- so cash in bank at year end would be $7,000. 

I did not find them via Bigger Pockets but rather through another investor, who had them quote on project for them. 

I'll give you the basics at REI. 

•Managing accounts payable and receivable•Reconciling bank accounts•Generating basic financial reports (e.g., Profit & Loss statement, Balance Sheet)Credentials:No formal certification is required and may or may not have a high school diploma, but some bookkeepers pursue:•QuickBooks ProAdvisor Certification•Certified Bookkeeper (CB) from the American Institute of Professional Bookkeepers (AIPB)•Certified Public Bookkeeper (CPB)Caveats:Bookkeepers do not handle and probably should not handle tax planning, financial analysis, or compliance work.

I realize this is a real estate focused group, and I have some basic questions.