There was no repeat business (appraisers are assigned by the pool administrator and lenders can't request their favorite appraiser like the old days) and the fees are set by the pool administrators (think low).

The only thing I would add is to make sure you're using conservative numbers when calculating cash flow - for vacancy rate, repairs and maintenance, CapEx, accounting and administrative, etc.

Sure, show apartments and entering rent deposits are basic customer service and administrative type things- but think about things like Fair Housing and other legalities involved.

Unlicensed residential mortgage loan origination activity may subject you to sanctions, administrative penalties, and even criminal charges Let me know if you have other questions

Its about 1000 *.5 = 500 - mortgage which is (- $100) Another rule of thumbI ran the numbers and this is what I put 10% vacancy rate ( I put it high, i think its closer to 7) Revenues Rental Income 1,000 Vacancy/Loss Rate 10.0% Vacancy/Loss Value (100) Gross Income 900 Expenses Property Taxes Annual 744 Insurance Annual 300 Maintenance & Repairs Annual 2,400 Utilities Annual 0 Advertising Annual 0 Administrative ( I just added this for some reason) Annual 150 Variable Cost PM (% Income) 0 Fixed Cost PM Annual 0 Other 1 Annual Other 2 Monthly 0 Total Expenses Expenses as % of Gross Income NOI (Cash Available) 493 Mortgage 421 Total Cash Flow 71 Cash ROI CF & ROI (Doing My Own PM) Annual Cash Flow $2,153 Cash ROI 5.90% Total ROI 10.15%

More often than not, several expenses are conveniently left off the pro forma (management, office and administrative, maintenance reserves, etc.), so it is effectively useless.I made an offer on a self-storage property once.

If you regularly use it for administrative purposes of running your RE business then you likely are qualified to take the deduction.You'll want to go over the specifics

To answer your question though, there's a few factors that come into play.FHA loans are backed by the US Federal Housing Administration. 

And it was a ton of extra work for their administrative staff. 

I do all of the administrative and rental management and I don't hire a cleaning crew, I find one person to be the on the ground manager, contact,  and cleaner, @Sundeep Amin they can easily turn over sheets and stuff in time if you set the checkin/checkout window correctly.