In addition, you want a separate bank account for the rental property to separate it from your personal accounts.

In addition, Pace Morby's team could have systems in place to vet the deals for which loans are sought.

I would recommend anyone that gets started has at least a list of 10,000 to ensure they can get 1-2 deals that first month. 

If the water bill is $100 a month, increase the price by 20% (or whatever you decide is fair) to compensate you for the time required to split and bill and to cover additional use when tenants squander the utility.

Additionally, when underwriting deals, you need to account for the general idea that repairs and maintenance will be a larger percentage of your rent, the lower your rental is.  

Quote from @Nick Am: @Michael Plaks--> The SE taxes are STRICTLY NOT in addition. 

If you just take the 13,835 financed at 6% you are adding 83 dollars a month. so a double whammy.Now, lets consider if rates drop to 5.5% in 24 months (not a prediction just a what if) and you could have refinanced at a much lower costs then the above scenario in what you paid in pre-paid and additional interest. on the other hand, if rates for your same scenario after your 5 year payback period is 9, then you will have an asset with a much lower then current market rent.  

.- **Scaling Can Be Tricky:** FHA loans are typically for primary residences, meaning you’ll need to strategize if you plan to purchase additional properties.Thinking through financing options and backup plans before you buy is essential.### 5.

Additionally, many deals tend to fly under the radar, so networking within organizations like NARPM (National Association of Residential Property Managers) can help uncover opportunities.If anyone reading this is considering selling their property management company in Texas, feel free to share—I’m genuinely interested in connecting.

My last note would be to try to buy 3 or less replacement properties, it makes the exchange much easier and you avoid some additional rules.