Originally posted by @Jorge Borjas:@Eliot M.

@Joshua Simmons Congrats on starting the journey!

It's simple enough to make a row for income, and another for expenses, and then subdivide those expenses, and add them up in the total expenses cell and then subtract the gross income from those total expenses to get my net.

I had to protect my bank whhile he went broke so I ended up paying for a few subs twice..

I’m looking into getting the app too.

basically if anyone has any tips when it comes to researching plots of land in order to make the right purchase i would greatly appreciate it get with a realtor. we underwrite land at no more than 10% of after built value. in our market we build under the average new build value which is about 515k. we like to be around 420-450k and smaller footprint about 1500 sq ft with attached garages. we build close to urban core where everyone wants to live and net migrations match up. but suburban is fine. if you give more context I can help but in most markets land is a buyers market. most people aren't looking at it or buying it. 

You need a reserve to handle unexpected costs, particularly during the first 1-2 years of ownership and learning how to manage the property. 

I would get with the city asap and find out all the details on this.It could be possible that if the LLC changes hands that it loses it's exemption.

Do a search on here and you will find some posts.

One month vacancy can eat up all the cash flow.