Legal and regulatory considerations include landlord-tenant laws, property tax rates, building codes and zoning regulations, and insurance coverage.

Most PMCs use PM software that tracks income & expenses and provides a monthly Owner Statement and some type of Annual Statement for income taxes.

Signed with PM March 21st. 3 out of 4 units are still occupied with only one tenant paying rent and utilities ( Im unsure actually if he's paying all utilities). 

Are you looking to build a larger portfolio and capitalize on velocity of return, or buy a couple solid properties that really pay off in the long run?

Here in the DFW area tenants pay their own rents.

They keep the home clean, pay rent a week early, and I haven't been called out to fix a single issue.

What would you do in this case esp if they deny paying for the repair?

Thank you Ned, that is exactly right, we actually check a condo/townhouse about 2 weeks ago, the thing was a condo with a basement, I cannot tell if it was a condo or townhome, anyway, the ceiling in the first floor was bowing, the 2nd floor, one of the bedroom was sinking, could not tell how this damage was done but the walls came apart from the floor, you could see the roof of the unit bowing inwards towards the structure a bit, and their "general contractor" estimate that for 5k they could straighten the property and level everything, even 1 window and 1 door looked so uneven that you would think  there was something wrong with your eyes...5k for structural damage, good luck with that one, we ran as far as we could from that....but we have seen they do inflate their ARV, since we learned the hard way , we go through these deals with a magnifying glass, I knew I was not so picky, numbers do not lie.Another thing that caught my attention, which I do not know if I am overly suspicious now that I am older, but they want to get the closing for us at the same time/day they are getting the property from whoever they buying it, which it seems to me they try to save on the closing by having a "dual" closing when in reality is just 1 closing and we are the one paying for it...I do not know there are few things that do not click right with this folks.

Always consider taxes. 

Im debating if its a good idea to refinance to a 15 year 4.375 fixed rate paying 2 points. it looks like a win win in most scenerios because of the rate savings and shorter term.