Cleaned up property.

.✅ Indirect Expenses (Office Overhead, Admin, & Labor): Harder to allocate, but common methods include:2) Common Billing Methods🔹 % of Gross Rents – Many PMs charge 3-5% for admin overhead.🔹 Per-Unit Fee – Flat $10-$20 per unit/month for shared costs.🔹 Time Tracking – Track staff hours and bill properties proportionally.🔹 Software Tools – AppFolio, Buildium, Rent Manager allow bulk allocations.3) Best Practices✔ Use a Spreadsheet or Software – Track expenses by property before invoicing owners.✔ Be Transparent – Define billable vs. included costs in your PM agreement.✔ Avoid Surprises – Owners expect clarity on additional charges.

What method of investing are you going to look into? 

Good luck, My wife and I are starting also, we also plan to do the BRRR, method,would love to talk more, maybe shares some do's and dont's that you may run across and we could share the same info to you. we are in the st louis area

After extensive clean up and rehab these two rentals generates $1,700 per month.

Commissioner, 73 T.C. 766 (1980), specifically confirmed that rental management activities can qualify for the home office deduction, regardless of passive income classification.Key Considerations: 🔑The space must be used ONLY for rental managementNo personal activities or other business uses allowedMust maintain solid documentationActivities should be regular and substantialPro Tips: 💪Consider the simplified method ($5/sq ft, max 300 sq ft)[Rev.

The BEST method for real estate investing is very simple: increase earnings, reduce expenditures, save, and invest from your own funds.You should focus on increasing earnings and learning how to manage your budget.

Any ideas on how I could access capital either through the equity in my other properties or another method? 

I would select one marketing method and become an expert at it.

We negotiated a price that worked for both parties, closed within three weeks, and took the property down ourselves.This deal was so clean, we didn’t even need to hire professional cleaners.