Most companies will ask for some form of small retainer per unit to allow to cover any damages or repairs that need to be made.

It would be good experience to deal directly with tenants when starting out to get an idea of what a property manager experiences and at the same time retain the 10% you'd be paying a property management company.

If you were to keep this property, you might want to consider recovering only what you put into it, which is the $110k and retain a higher equity position (<60% LTV).

Medicare never phases out and increases 0.9% after a certain level.Netting it out if you make $125k W-2, and $100k PROFIT after all expenses on a flip-  You’ll pay 15.3% on the first $35.2k of the flip, the 2.9% on the next $39.8k then 3.8% on the last $25k Total SE tax = $5385 + $1154 + $950 = $7489Plus income taxes in your bracket (ladder) are 22 or 24%  say $22,000 in total from your $100k profit your taxes are $29489 and you retain $70511You’ll see the benefit if you pull your annual social security statement when it caps out and the boost years of hitting the cap can have on your social security.You also can chop down the bracket you’re in by maximizing your 401k contributions on w-2 income -talk to a tax planner to ensure you maximize those opportunities.The self-employment tax rate for 2023As noted, the self-employment tax rate is 15.3% of net earnings in 2023.

Whether or not it's worth it to you to retain an attorney and potentially take on the costs of litigating the matter down the line depends how badly you want the property and how good of a deal it is.  

Typically reviews documents and retains a commission from AgentsAgent is the basic realtor who has passed the RE exam. 

A few weeks ago we took a developer to lunch to ask questions and get his thoughts on the Baltimore market, turns out he charges as a consultant and charges a retainer.

So do I need to start keeping CPA/accountant on retainer for future deals.

They use a land contract and the owner retains title until the last payment is made

Typically the seller retains rights in deducting the property taxes until you actually buy it.